Steven Yi Sells 8,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $13.07, for a total transaction of $104,560.00. Following the sale, the insider owned 2,919,330 shares of the company’s stock, valued at approximately $38,155,643.10. The trade was a 0.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Steven Yi also recently made the following trade(s):

• On Wednesday, December 10th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.50, for a total value of $108,000.00.
• On Wednesday, December 3rd, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $13.37, for a total value of $106,960.00.
• On Monday, December 1st, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.60, for a total value of $100,800.00.
• On Wednesday, November 26th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.48, for a total value of $99,840.00.
• On Monday, November 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.88, for a total transaction of $95,040.00.
• On Wednesday, November 19th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.72, for a total transaction of $93,760.00.
• On Monday, November 17th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.31, for a total transaction of $98,480.00.

MediaAlpha Trading Down 1.4%

Shares of MAX stock opened at $13.10 on Friday. The firm’s 50 day moving average is $12.10 and its 200 day moving average is $11.34. The stock has a market capitalization of $853.73 million, a P/E ratio of -436.52 and a beta of 1.21. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $13.92.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $283.30 million. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its holdings in MediaAlpha by 19.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 560,765 shares of the company’s stock worth $6,382,000 after buying an additional 91,204 shares during the period. PharVision Advisers LLC purchased a new position in shares of MediaAlpha during the 3rd quarter worth approximately $279,000. Virtus Advisers LLC raised its position in shares of MediaAlpha by 316.6% in the 3rd quarter. Virtus Advisers LLC now owns 18,711 shares of the company’s stock worth $213,000 after acquiring an additional 14,220 shares in the last quarter. Voleon Capital Management LP lifted its stake in shares of MediaAlpha by 77.8% in the 3rd quarter. Voleon Capital Management LP now owns 32,090 shares of the company’s stock valued at $365,000 after purchasing an additional 14,042 shares during the period. Finally, Quarry LP boosted its position in shares of MediaAlpha by 43.3% during the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MAX shares. Wall Street Zen upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. Finally, Keefe, Bruyette & Woods upped their price target on MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.25.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.