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 dated Wednesday, December 3rd. The stock was sold at an average price of $13.37, for a total value of $106,960.00. Following the sale, the insider directly owned 2,927,330 shares of the company’s stock, valued at $39,138,402.10. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, December 1st, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.60, for a total transaction 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 transaction 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 stock was sold at an average price of $12.31, for a total value of $98,480.00.

MediaAlpha Trading Down 1.1%

Shares of NYSE MAX opened at $13.48 on Friday. The stock has a market cap of $878.17 million, a P/E ratio of -449.02 and a beta of 1.21. The business’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $11.23. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $13.92.

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

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MediaAlpha during the 2nd quarter worth approximately $62,000. Semanteon Capital Management LP purchased a new position in shares of MediaAlpha during the 2nd quarter worth approximately $110,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of MediaAlpha during the 2nd quarter worth approximately $111,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

MediaAlpha Company Profile

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.