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 that occurred on Friday, February 7th. The stock was sold at an average price of $20.00, for a total value of $373,860.00. Following the sale, the insider now directly owns 408,529 shares in the company, valued at $8,170,580. The trade was a 4.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $15.60, for a total value of $156,015.60.

Magnite Price Performance

NASDAQ MGNI traded up $2.03 on Friday, hitting $21.17. 11,715,763 shares of the company were exchanged, compared to its average volume of 2,159,522. Magnite, Inc. has a 1-year low of $8.38 and a 1-year high of $21.29. The firm has a 50 day moving average of $16.65 and a two-hundred day moving average of $14.65. 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 company has a market cap of $2.98 billion, a P/E ratio of 352.83, a P/E/G ratio of 0.90 and a beta of 2.52.

Magnite (NASDAQ:MGNI) last announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The company had revenue of $162.00 million for the quarter, compared to analyst estimates 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 company posted $0.02 earnings per share. On average, equities analysts predict that Magnite, Inc. will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGNI. Arizona State Retirement System increased its stake in shares of Magnite by 1.5% in the 4th quarter. Arizona State Retirement System now owns 36,846 shares of the company’s stock valued at $587,000 after buying an additional 559 shares during the period. Truist Financial Corp increased its position in Magnite by 2.0% in the fourth quarter. Truist Financial Corp now owns 34,242 shares of the company’s stock worth $545,000 after purchasing an additional 674 shares during the period. Verdence Capital Advisors LLC increased its position in Magnite by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock worth $268,000 after purchasing an additional 892 shares during the period. Jones Financial Companies Lllp raised its holdings in Magnite by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in Magnite by 4.6% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock valued at $336,000 after purchasing an additional 1,068 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MGNI. Wells Fargo & Company raised their price objective on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Magnite in a report on Friday, January 17th. Macquarie reissued an “outperform” rating and issued a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Scotiabank began coverage on Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Finally, Wolfe Research upped their price target on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Magnite has a consensus rating of “Moderate Buy” and an average target price of $18.35.

About Magnite

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.