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MediaAlpha CEO Yi Steven sells $1.49 million in stock

Published 02/11/2024, 01:30
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LOS ANGELES—Yi Steven, the CEO, President, and Co-Founder of MediaAlpha, Inc. (NYSE:MAX), has sold 72,000 shares of the company's Class A common stock. The shares were sold at an average price of $20.6632, generating a total of approximately $1.49 million. Following this transaction, Steven holds 2,312,162 shares directly.

The sales were conducted under a Rule 10b5-1 trading plan, which Steven adopted in May 2024 to address tax liabilities associated with the vesting of restricted stock units. The sale price ranged from $20.045 to $20.90 per share.

In other recent news, MediaAlpha reported a robust third quarter, setting a record transaction value of $451 million and an adjusted EBITDA of $26.3 million. The company noted significant growth in the property and casualty sector and a steady rise in the health vertical, despite facing challenges in the Medicare payer space. In addition, MediaAlpha secured a multiyear contract extension with Insurify, further solidifying its market position.

Looking ahead, the company's Q4 projections include a flat to slight increase in property and casualty transaction value and a mid-single-digit decline in health insurance transaction value. Revenue for Q4 is expected to range from $275 million to $295 million and adjusted EBITDA is anticipated to be between $29.5 million and $32.5 million.

MediaAlpha remains optimistic about its future, expecting growth under various political administrations and minimal impact from upcoming regulatory changes. The company also addressed the limited impact of recent hurricanes on its operations and maintains a positive outlook for growth despite current challenges in the Medicare sector. These are among the recent developments for MediaAlpha.

InvestingPro Insights

While CEO Yi Steven's recent stock sale might raise eyebrows, it's important to contextualize this move within MediaAlpha's broader financial picture. According to InvestingPro data, the company's revenue growth has been impressive, with a 72.47% increase in the last twelve months as of Q3 2024. This strong performance is further underscored by an even more remarkable 247.49% quarterly revenue growth in Q3 2024.

InvestingPro Tips suggest that analysts anticipate continued sales growth for MediaAlpha in the current year, which aligns with the company's recent financial trajectory. Additionally, the company is expected to be profitable this year, a positive sign for investors.

However, it's worth noting that MediaAlpha's stock has taken a significant hit over the last week, with a -15.74% total return. This recent dip might explain the timing of Steven's stock sale, which was planned in advance to address tax liabilities.

Despite the recent stock performance, MediaAlpha's financials show promise. The company's EBITDA growth stands at an impressive 193.32% for the last twelve months as of Q3 2024, indicating strong operational efficiency.

For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 12 more InvestingPro Tips available for MediaAlpha, providing a deeper understanding of the company's financial health and market position.

LOS ANGELES—Yi Steven, the CEO, President, and Co-Founder of MediaAlpha, Inc. (NYSE:MAX), has sold 72,000 shares of the company's Class A common stock. The shares were sold at an average price of $20.6632, generating a total of approximately $1.49 million. Following this transaction, Steven holds 2,312,162 shares directly.

The sales were conducted under a Rule 10b5-1 trading plan, which Steven adopted in May 2024 to address tax liabilities associated with the vesting of restricted stock units. The sale price ranged from $20.045 to $20.90 per share.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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