Magnite, Inc. (NASDAQ:MGNI) Shares Purchased by Royce & Associates LP

Royce & Associates LP raised its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 7.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,597,896 shares of the company’s stock after buying an additional 109,595 shares during the period. Royce & Associates LP’s holdings in Magnite were worth $25,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Magnite during the fourth quarter worth $25,000. Larson Financial Group LLC boosted its holdings in shares of Magnite by 179.2% during the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock worth $58,000 after purchasing an additional 2,341 shares during the last quarter. Quarry LP boosted its holdings in shares of Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after purchasing an additional 4,508 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Magnite by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after purchasing an additional 1,000 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Trading Up 4.3 %

NASDAQ:MGNI opened at $12.60 on Monday. The business’s 50-day moving average is $16.69 and its two-hundred day moving average is $15.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a 12 month low of $8.38 and a 12 month high of $21.29. The firm has a market capitalization of $1.80 billion, a PE ratio of 210.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.79.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.14). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The company had revenue of $180.20 million during the quarter, compared to analysts’ expectations of $183.90 million. Research analysts predict that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian Gephart sold 6,250 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the transaction, the chief accounting officer now owns 132,909 shares in the company, valued at approximately $2,126,544. The trade was a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David Day sold 13,345 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $17.00, for a total value of $226,865.00. Following the completion of the transaction, the chief financial officer now owns 374,014 shares in the company, valued at approximately $6,358,238. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,250 shares of company stock worth $4,945,720. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MGNI has been the topic of several analyst reports. Susquehanna raised their price objective on Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. Royal Bank of Canada increased their target price on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Magnite in a research report on Thursday, February 27th. Finally, Wells Fargo & Company increased their target price on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

About Magnite

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.