Key Points
- MediaAlpha CTO Kuanling Amy Yeh sold 3,000 shares at an average price of $11.77, worth $35,310, under a pre-arranged Rule 10b5-1 plan to cover tax obligations from vested equity awards. She retained 543,091 shares afterward.
- MediaAlpha shares opened at $11.29, with a market capitalization of approximately $691.7 million and a 52-week range of $7.09 to $14.70.
- The company exceeded quarterly expectations, reporting $0.65 in adjusted earnings per share versus a $0.23 consensus estimate and revenue of $316.88 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.79.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) CTO Kuanling Yeh sold 3,000 shares of MediaAlpha stock in a transaction on Friday, October 16th. The stock was sold at an average price of $11.77, for a total value of $35,310.00. Following the completion of the sale, the chief technology officer directly owned 543,091 shares of the company's stock, valued at $6,392,181.07. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed 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.
Kuanling Amy Yeh also recently made the following trade(s):
- On Friday, September 25th, Kuanling Yeh sold 3,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.40, for a total value of $28,200.00.
- On Friday, September 4th, Kuanling Yeh sold 3,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.00, for a total value of $36,000.00.
- On Friday, August 14th, Kuanling Yeh sold 12,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.55, for a total value of $162,600.00.
MediaAlpha Stock Performance
Shares of NYSE:MAX opened at $11.29 on Tuesday. The stock has a market capitalization of $691.69 million, a price-to-earnings ratio of 6.97 and a beta of 1.14. The stock's 50-day simple moving average is $11.37 and its two-hundred day simple moving average is $10.94. 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 released its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.42. The business had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. As a group, equities analysts forecast that MediaAlpha, Inc. will post 1.40 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MediaAlpha
Several institutional investors and hedge funds have recently bought and sold shares of MAX. Triad Investment Management grew its holdings in MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company's stock valued at $4,635,000 after purchasing an additional 34,867 shares during the period. Squarepoint Ops LLC increased its position in MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company's stock worth $2,945,000 after buying an additional 18,714 shares in the last quarter. Corient Private Wealth LP increased its position in MediaAlpha by 50.7% in the second quarter. Corient Private Wealth LP now owns 23,451 shares of the company's stock worth $295,000 after buying an additional 7,892 shares in the last quarter. AXQ Capital LP bought a new position in shares of MediaAlpha in the second quarter worth about $316,000. Finally, Globeflex Capital L P bought a new position in shares of MediaAlpha in the second quarter worth about $702,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of MediaAlpha in a report on Monday, August 24th. They issued a "neutral" rating and a $15.00 price objective on the stock. Zacks Research upgraded shares of MediaAlpha from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group upped their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Royal Bank Of Canada upped their target price on shares of MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group decreased their price target on shares of MediaAlpha from $14.00 to $10.50 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, MediaAlpha presently has a consensus rating of "Moderate Buy" and an average price target of $13.79.
Check Out Our Latest Report on MediaAlpha
About MediaAlpha
(
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.
Further Reading
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