Key Points
- Insider Steven Yi sold 8,000 shares in multiple transactions between Nov. 17 and Dec. 3 (48,000 shares total), and after the latest sale he still owns 2,943,330 shares valued at about $37.1M.
- Recent results: MediaAlpha beat Q3 estimates with $306.5M revenue and $0.26 EPS, the stock opened at $13.60 (up 6.9%), and analysts hold a consensus "Moderate Buy" with a $17.25 target.
- Institutional interest is high — several hedge funds materially increased positions recently and institutions own about 64.4% of the company.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $12.60, for a total transaction of $100,800.00. Following the sale, the insider directly owned 2,943,330 shares in the company, valued at approximately $37,085,958. The trade was a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Steven Yi also recently made the following trade(s):
- On Wednesday, December 3rd, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.37, for a total transaction of $106,960.00.
- On Wednesday, November 26th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.48, for a total transaction of $99,840.00.
- On Monday, November 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.88, for a total value 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 value of $93,760.00.
- On Monday, November 17th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.31, for a total transaction of $98,480.00.
MediaAlpha Stock Up 6.9%
NYSE MAX opened at $13.60 on Thursday. The business's 50-day moving average price is $11.89 and its 200 day moving average price is $11.21. The firm has a market cap of $886.01 million, a P/E ratio of -453.02 and a beta of 1.21. MediaAlpha, Inc. has a 52-week low of $7.33 and a 52-week high of $13.92.
MediaAlpha (NYSE:MAX - Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The company had revenue of $306.51 million for the quarter, compared to the consensus estimate of $283.30 million. During the same period last year, the business posted $0.17 EPS. The company's revenue was up 18.3% on a year-over-year basis. As a group, analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts recently weighed in on MAX shares. Keefe, Bruyette & Woods upped their price objective on MediaAlpha from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, October 30th. Canaccord Genuity Group restated a "buy" rating and set a $15.00 target price on shares of MediaAlpha in a research report on Thursday, October 30th. Wall Street Zen upgraded MediaAlpha from a "hold" rating to a "strong-buy" rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of MediaAlpha in a report on Monday. Finally, The Goldman Sachs Group set a $13.50 target price on MediaAlpha in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, MediaAlpha has a consensus rating of "Moderate Buy" and a consensus target price of $17.25.
View Our Latest Stock Report on MediaAlpha
Hedge Funds Weigh In On MediaAlpha
Hedge funds have recently made changes to their positions in the stock. Clearline Capital LP increased its holdings in shares of MediaAlpha by 123.4% during the 1st quarter. Clearline Capital LP now owns 2,654,921 shares of the company's stock worth $24,531,000 after buying an additional 1,466,760 shares during the last quarter. Millennium Management LLC raised its holdings in shares of MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock worth $16,268,000 after purchasing an additional 1,246,493 shares during the period. Victory Capital Management Inc. raised its holdings in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company's stock worth $8,089,000 after purchasing an additional 658,625 shares during the period. Broad Bay Capital Management LP grew its holdings in shares of MediaAlpha by 23.8% during the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock worth $25,389,000 after purchasing an additional 529,093 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of MediaAlpha by 95.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company's stock worth $12,045,000 after purchasing an additional 516,195 shares during the period. Institutional investors and hedge funds own 64.39% of the company's stock.
MediaAlpha Company Profile
(
Get Free Report)
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.
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