Calamos Advisors LLC Has $559,000 Position in Magnite, Inc. (NASDAQ:MGNI)

Calamos Advisors LLC lessened its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 81.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,143 shares of the company’s stock after selling 155,837 shares during the quarter. Calamos Advisors LLC’s holdings in Magnite were worth $559,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares in the last quarter. KBC Group NV lifted its holdings in shares of Magnite by 66.5% in the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. grew its position in Magnite by 87.0% in the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock valued at $105,000 after purchasing an additional 3,689 shares during the period. Lebenthal Global Advisors LLC bought a new stake in Magnite during the 3rd quarter valued at $141,000. Finally, Vicus Capital acquired a new position in Magnite during the third quarter worth $164,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MGNI. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Magnite in a research note on Friday, January 17th. Royal Bank of Canada upped their price target on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Scotiabank initiated coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Magnite in a report on Friday, November 8th. Finally, Wolfe Research increased their target price on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Magnite Trading Up 1.5 %

NASDAQ:MGNI opened at $17.97 on Thursday. The stock has a market capitalization of $2.53 billion, a PE ratio of 299.50, a price-to-earnings-growth ratio of 0.90 and a beta of 2.52. The firm’s 50 day moving average is $16.57 and its 200 day moving average is $14.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a 12 month low of $8.38 and a 12 month high of $18.38.

Magnite (NASDAQ:MGNI) last posted its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.09). The business had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $147.94 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. During the same quarter in the previous year, the business earned $0.02 EPS. Sell-side analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current year.

Insider Activity at Magnite

In other news, insider Aaron Saltz sold 6,110 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $17.50, for a total value of $106,925.00. Following the transaction, the insider now owns 297,482 shares of the company’s stock, valued at approximately $5,205,935. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Lee Soroca sold 7,849 shares of Magnite stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.60, for a total value of $122,444.40. Following the sale, the insider now directly owns 421,347 shares of the company’s stock, valued at $6,573,013.20. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 360,985 shares of company stock worth $6,096,135. Corporate insiders own 4.30% of the company’s stock.

Magnite 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.