Murphy & Mullick Capital Management Corp Acquires Shares of 7,285 Magnite, Inc. (NASDAQ:MGNI)

Murphy & Mullick Capital Management Corp bought a new position in Magnite, Inc. (NASDAQ:MGNI) in the 4th quarter, Holdings Channel.com reports. The firm bought 7,285 shares of the company’s stock, valued at approximately $116,000.

A number of other large investors have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Magnite by 125.3% during the third quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock valued at $91,128,000 after purchasing an additional 3,659,759 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in Magnite during the 3rd quarter valued at $23,917,000. Boston Partners increased its stake in Magnite by 39.1% during the 4th quarter. Boston Partners now owns 4,756,323 shares of the company’s stock worth $76,061,000 after buying an additional 1,336,458 shares during the period. Maestria Partners LLC acquired a new position in Magnite in the 4th quarter worth $15,161,000. Finally, Stephens Investment Management Group LLC boosted its position in Magnite by 146.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company’s stock valued at $15,867,000 after buying an additional 592,853 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Buying and Selling

In related news, CFO David Day sold 39,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.00, for a total value of $780,000.00. Following the sale, the chief financial officer now directly owns 488,506 shares in the company, valued at $9,770,120. This trade represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Rossman sold 149,936 shares of Magnite stock in a transaction on Friday, February 7th. The shares were sold at an average price of $19.46, for a total value of $2,917,754.56. Following the sale, the director now directly owns 219,920 shares in the company, valued at $4,279,643.20. The trade was a 40.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,250 shares of company stock valued at $4,945,720 in the last quarter. Company insiders own 4.30% of the company’s stock.

Magnite Stock Down 5.8 %

NASDAQ:MGNI opened at $12.74 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $16.21 and a 200-day moving average of $15.20. The firm has a market capitalization of $1.82 billion, a PE ratio of 212.33, a price-to-earnings-growth ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $21.29.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MGNI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Magnite in a research report on Thursday, February 27th. Wells Fargo & Company upped their target price on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Scotiabank began coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 target price for the company. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Magnite in a research note on Monday, March 10th. Finally, Susquehanna increased their price objective on shares of Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Magnite presently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Magnite Company Profile

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.