Magnite, Inc. (NASDAQ:MGNI – Get Free Report) CEO Michael G. Barrett sold 75,000 shares of Magnite stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $12.63, for a total transaction of $947,250.00. Following the sale, the chief executive officer now directly owns 944,552 shares of the company’s stock, valued at $11,929,691.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Magnite Price Performance
Shares of NASDAQ:MGNI opened at $12.54 on Monday. The company has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $11.52. Magnite, Inc. has a one year low of $6.28 and a one year high of $15.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -19.59, a PEG ratio of 0.87 and a beta of 2.35.
Magnite (NASDAQ:MGNI – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Magnite had a negative net margin of 0.83% and a positive return on equity of 3.74%. The business had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $144.04 million. During the same period in the previous year, the company posted ($0.04) earnings per share. Magnite’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Magnite, Inc. will post 0.39 EPS for the current year.
Institutional Investors Weigh In On Magnite
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on MGNI shares. Royal Bank of Canada lifted their price objective on shares of Magnite from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Wolfe Research started coverage on shares of Magnite in a research report on Tuesday, July 16th. They set an “outperform” rating and a $16.00 price objective for the company. Evercore ISI lifted their price objective on shares of Magnite from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Craig Hallum boosted their price target on shares of Magnite from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Magnite in a research report on Tuesday, July 9th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Magnite presently has a consensus rating of “Buy” and an average target price of $17.25.
View Our Latest Report on MGNI
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.
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