Key Points
- Insider sale: MediaAlpha insider Steven Yi sold 24,000 shares for $240,960 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards. He retained approximately 2.32 million shares.
- Stock performance: MediaAlpha shares opened at $10.12 and were down 5.3%, with a market capitalization of about $619.6 million. The stock has traded between $7.09 and $14.70 over the past year.
- Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $14.29, while the company’s latest quarterly results exceeded earnings and revenue expectations.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 2,033 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $11.01, for a total value of $22,383.33. Following the completion of the sale, the insider directly owned 2,313,707 shares of the company's stock, valued at approximately $25,473,914.07. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Thursday, October 8th, Steven Yi sold 24,000 shares of MediaAlpha stock. The shares were sold at an average price of $10.04, for a total value of $240,960.00.
- On Tuesday, September 1st, Steven Yi sold 48,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.38, for a total value of $594,240.00.
- 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 value of $910,080.00.
MediaAlpha Price Performance
NYSE MAX opened at $10.12 on Friday. The firm has a market capitalization of $619.64 million, a price-to-earnings ratio of 6.24 and a beta of 1.14. The company has a 50 day simple moving average of $11.59 and a 200-day simple moving average of $10.87. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70.
MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.42. The firm had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, analysts predict that MediaAlpha, Inc. will post 1.40 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its stake in shares of MediaAlpha by 9,917.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company's stock valued at $36,000 after acquiring an additional 2,777 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in MediaAlpha during the first quarter worth approximately $85,000. Aaron Wealth Advisors LLC bought a new stake in MediaAlpha during the first quarter worth approximately $95,000. Glenmede Trust Co. NA acquired a new position in MediaAlpha during the first quarter valued at approximately $122,000. Finally, SG Americas Securities LLC grew its holdings in MediaAlpha by 23.2% during the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company's stock valued at $181,000 after purchasing an additional 3,668 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.
Wall Street Analysts Forecast Growth
MAX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of MediaAlpha from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. TD Cowen reduced their price objective on MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, June 23rd. Royal Bank Of Canada lifted their price objective on MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Zacks Research upgraded MediaAlpha from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Finally, Canaccord Genuity Group upped their target price on MediaAlpha from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, MediaAlpha has a consensus rating of "Moderate Buy" and an average target price of $14.29.
Read Our Latest Analysis on MAX
MediaAlpha Company Profile
(
Get Free Report)
MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.
The company's services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.
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