Magnite, Inc. (NASDAQ:MGNI) Insider Sells $373,860.00 in Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 18,693 shares of Magnite stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $373,860.00. Following the sale, the insider now directly owns 408,529 shares of the company’s stock, valued at approximately $8,170,580. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sean Patrick Buckley also recently made the following trade(s):

• On Monday, November 18th, Sean Patrick Buckley sold 10,001 shares of Magnite stock. The shares were sold at an average price of $15.60, for a total value of $156,015.60.

Magnite Stock Performance

NASDAQ MGNI opened at $21.17 on Friday. The firm has a market cap of $2.98 billion, a P/E ratio of 352.83, a P/E/G ratio of 1.05 and a beta of 2.52. Magnite, Inc. has a 52-week low of $8.38 and a 52-week high of $21.29. The business’s 50-day moving average price is $16.65 and its 200 day moving average price is $14.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Magnite (NASDAQ:MGNI) last announced 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). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The company had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $147.94 million. During the same quarter last year, the business posted $0.02 earnings per share. On average, equities research analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Magnite

Several hedge funds have recently made changes to their positions in MGNI. SBI Securities Co. Ltd. purchased a new position in Magnite during the fourth quarter worth about $25,000. Larson Financial Group LLC increased its position in Magnite by 179.2% during the 4th 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 period. Quarry LP raised its stake in shares of Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Magnite by 20.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock valued at $93,000 after buying an additional 1,000 shares during the period. Finally, 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 valued at $95,000 after buying an additional 2,374 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MGNI. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a report on Friday, January 17th. Scotiabank started coverage on shares of Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Wolfe Research lifted their price target on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.35.

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.