Stifel Financial Corp Has $893,000 Stake in Magnite, Inc. (NASDAQ:MGNI)

Stifel Financial Corp raised its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 20.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 56,122 shares of the company’s stock after purchasing an additional 9,620 shares during the period. Stifel Financial Corp’s holdings in Magnite were worth $893,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MGNI. SBI Securities Co. Ltd. purchased a new position in Magnite in the fourth quarter worth $25,000. Larson Financial Group LLC increased its position 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 valued at $58,000 after buying an additional 2,341 shares during the period. Quantbot Technologies LP purchased a new stake in Magnite in the 4th quarter worth approximately $87,000. Jones Financial Companies Lllp raised its position in shares of Magnite by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after buying an additional 1,000 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock valued at $95,000 after acquiring an additional 2,374 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

Magnite Stock Performance

Shares of Magnite stock opened at $15.10 on Friday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 251.67, a PEG ratio of 1.00 and a beta of 2.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day moving average is $11.86 and its 200 day moving average is $14.83. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $21.29.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $145.85 million during the quarter, compared to analyst estimates of $142.18 million. During the same quarter in the previous year, the firm earned $0.05 EPS. Magnite’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Magnite

In other Magnite news, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $20.35, for a total transaction of $101,750.00. Following the transaction, the director now owns 182,837 shares of the company’s stock, valued at $3,720,732.95. The trade was a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Lee Soroca sold 15,499 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the sale, the insider now owns 458,386 shares of the company’s stock, valued at $7,219,579.50. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,276 shares of company stock worth $647,241. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Susquehanna upped their target price on shares of Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price objective 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. Royal Bank of Canada dropped their price objective on Magnite from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Rosenblatt Securities reissued a “buy” rating and set a $18.00 target price on shares of Magnite in a research note on Thursday. Finally, Benchmark dropped their price target on Magnite from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday. One 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.62.

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.