Dimensional Fund Advisors LP Buys 170,532 Shares of Magnite, Inc. (NASDAQ:MGNI)

Dimensional Fund Advisors LP lifted its position in Magnite, Inc. (NASDAQ:MGNI) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,524,643 shares of the company’s stock after purchasing an additional 170,532 shares during the quarter. Dimensional Fund Advisors LP owned about 3.93% of Magnite worth $87,957,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Magnite by 25.9% in the 4th quarter. First Trust Advisors LP now owns 277,418 shares of the company’s stock worth $4,416,000 after acquiring an additional 57,096 shares during the last quarter. EAM Global Investors LLC bought a new stake in Magnite in the fourth quarter worth $3,640,000. EAM Investors LLC purchased a new stake in Magnite during the fourth quarter valued at $3,157,000. Gamco Investors INC. ET AL lifted its position in Magnite by 14.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 84,632 shares of the company’s stock valued at $1,347,000 after purchasing an additional 10,799 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Magnite by 14.1% in the 4th quarter. Barclays PLC now owns 240,375 shares of the company’s stock worth $3,826,000 after buying an additional 29,777 shares in the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Magnite

In related news, Director Paul Caine sold 5,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the completion of the sale, the director now directly owns 182,837 shares in the company, valued at $3,720,732.95. This represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Lee Soroca sold 15,499 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.75, for a total value of $244,109.25. Following the sale, the insider now directly owns 458,386 shares in the company, valued at approximately $7,219,579.50. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,905 shares of company stock valued at $4,718,855. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGNI shares. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Magnite in a research report on Monday, April 21st. Susquehanna increased their price target on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note 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 note on Thursday, January 16th. Finally, Rosenblatt Securities assumed coverage on shares of Magnite in a research note on Tuesday. They set a “buy” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.08.

Magnite Trading Down 0.4 %

Shares of NASDAQ MGNI opened at $12.30 on Wednesday. Magnite, Inc. has a twelve month low of $8.22 and a twelve month high of $21.29. The firm has a market cap of $1.74 billion, a PE ratio of 205.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69. The business has a fifty day simple moving average of $12.42 and a two-hundred day simple moving average of $14.81. 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 released its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share 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 firm had revenue of $180.20 million during the quarter, compared to the consensus estimate of $183.90 million. Analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

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.