Key Points
- MediaAlpha insider Steven Yi sold 48,000 shares at an average price of $12.38, for total proceeds of $594,240. The sale was made under a Rule 10b5-1 plan to cover tax withholding, reducing his ownership by 2.01% to 2,339,740 shares.
- MediaAlpha reported quarterly EPS of $0.65, beating expectations of $0.23, while revenue of $316.88 million also exceeded forecasts. The company’s shares recently opened at $12.51, with a market capitalization of approximately $766 million.
- Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $14.29. Institutional ownership stands at 64.39%, with several major investors increasing their positions.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 48,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $12.38, for a total value of $594,240.00. Following the completion of the sale, the insider directly owned 2,339,740 shares of the company's stock, valued at approximately $28,965,981.20. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Steven Yi also recently made the following trade(s):
- On Monday, August 3rd, Steven Yi sold 72,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.64, for a total transaction of $910,080.00.
- On Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The stock was sold at an average price of $14.07, for a total transaction of $372,390.69.
- On Monday, July 6th, Steven Yi sold 17,254 shares of MediaAlpha stock. The shares were sold at an average price of $14.01, for a total transaction of $241,728.54.
- On Wednesday, July 1st, Steven Yi sold 96,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.90, for a total transaction of $1,238,400.00.
- On Tuesday, June 16th, Steven Yi sold 24,000 shares of MediaAlpha stock. The shares were sold at an average price of $10.01, for a total transaction of $240,240.00.
MediaAlpha Stock Performance
MAX opened at $12.51 on Thursday. The firm's fifty day moving average is $13.13 and its two-hundred day moving average is $10.63. The firm has a market cap of $766.06 million, a PE ratio of 7.72 and a beta of 1.16. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $14.70.
MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.23 by $0.42. The business had revenue of $316.88 million for the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Equities analysts forecast that MediaAlpha, Inc. will post 1.13 EPS for the current fiscal year.
Institutional Investors Weigh In On MediaAlpha
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new position in shares of MediaAlpha in the 2nd quarter valued at about $168,000. JPMorgan Chase & Co. increased its position in shares of MediaAlpha by 75.9% in the second quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company's stock valued at $5,938,000 after acquiring an additional 233,948 shares during the last quarter. Legal & General Group Plc raised its holdings in MediaAlpha by 29.3% during the second quarter. Legal & General Group Plc now owns 36,315 shares of the company's stock worth $398,000 after acquiring an additional 8,229 shares in the last quarter. Rhumbline Advisers raised its holdings in MediaAlpha by 34.4% during the second quarter. Rhumbline Advisers now owns 55,622 shares of the company's stock worth $609,000 after acquiring an additional 14,234 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in MediaAlpha during the second quarter valued at approximately $153,000. 64.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on MAX shares. Keefe, Bruyette & Woods upped their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Wall Street Zen raised MediaAlpha from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Zacks Research upgraded MediaAlpha from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Capital One Financial set a $11.00 price target on MediaAlpha in a research report on Tuesday, June 9th. Finally, Weiss Ratings raised shares of MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $14.29.
View Our Latest Report on MediaAlpha
About MediaAlpha
(
Get Free Report)
MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company's platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.
The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.
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