The cluster of insider selling, particularly the $594K sale by Yi Steven, is notable given its proximity to the $12M TRA buyout agreement filed on 2026-09-09. While the dollar amount is modest relative to market cap, the timing and seniority suggest insiders may have been informed of the deal. Monitor for any additional insider sales or a potential equity offering to fund the $12M payment. The cross-filing context (agreement + insider trades) is an AMPLIFIER per actuarial verdicts, supporting a slightly elevated impact.
Price Chart
Executive Summary
A cluster of insider selling at MediaAlpha (MAX) totaling $653K over the past week, led by a $594K sale by Yi Steven (See Remarks) and smaller sales by the CTO and a director. This selling occurred just after the company entered a material agreement to buy out tax receivable agreement rights for $12M, a deal insiders may have been informed of. The selling is modest relative to the $709M market cap (~0.09%), but the timing and seniority of the sellers warrant attention.
Key Financial Metrics
Key Facts
- Insider cluster: 3 insiders sold $653K total in open-market sales over 7 days.
- Largest sale: Yi Steven sold 48K shares for $594K at $12.38 on 2026-09-01.
- CTO Kuanling Amy Yeh sold 3K shares for $36K at $12.00 on 2026-09-04.
- Director Eugene Nonko sold 1.9K shares for $23K at $11.70 on 2026-09-08.
- One day prior (2026-09-09), the company entered a $12M agreement to buy out tax receivable agreement rights.
- Total insider selling of $653K represents ~0.09% of the $709M market cap.
Financial Impact
Insider selling of $653K, or ~0.09% of market cap. The $12M TRA buyout is a separate cash outflow.
Risk Factors
- Insider selling may signal lack of confidence in near-term prospects or valuation.
- The $12M TRA buyout reduces cash, potentially pressuring liquidity or requiring future financing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MAX-1789084879410 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 144 | $11.88 | awaiting T+20 | — | $11.77 (−0.93%) |
Oct 21, 2026 6d ago | Insider Cluster | $12.41 | awaiting T+20 | — | $11.77 (−5.16%) |
Oct 13, 2026 14d ago | 144 | $10.47 | awaiting T+20 | — | $11.77 (−12.42%) |
Oct 8, 2026 19d ago | 144 | $10.09 | awaiting T+20 | — | $11.77 (+16.65%) |
Sep 23, 2026 4w ago | Insider Cluster | $9.45 $12.41 | ▲ +31.32% | ▲ +31.74% | $11.77 (+24.55%) |
Sep 16, 2026 5w ago | Insider Cluster | $10.57 $11.68 | ▼ −10.50% | ▼ −9.30% | $11.77 (−11.35%) |
Sep 10, 2026 6w ago | Insider Cluster | $11.65 $10.09 | ▲ +13.39% | ▲ +15.26% | $11.77 (−1.03%) |
Sep 9, 2026 6w ago | Insider Cluster | $11.74 $10.68 | ▼ −9.03% | ▼ −11.15% | $11.77 (+0.26%) |
Sep 3, 2026 7w ago | 8-K / PRESS-RELEASE | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.77 (−3.68%) |
Sep 2, 2026 7w ago | Insider Cluster | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.77 (−3.68%) |
US Market Status
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