Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart Sells 6,250 Shares

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the completion of the sale, the chief accounting officer now owns 132,909 shares of the company’s stock, valued at $2,126,544. This represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Magnite Stock Down 1.1 %

NASDAQ MGNI opened at $14.49 on Thursday. The stock has a fifty day moving average of $17.20 and a 200-day moving average of $15.27. The stock has a market capitalization of $2.07 billion, a P/E ratio of 241.50, a price-to-earnings-growth ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $21.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, February 26th. The company reported $0.25 EPS 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 analyst estimates of $183.90 million. On average, equities research analysts forecast that Magnite, Inc. will post 0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MGNI shares. Susquehanna raised their target price on Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research report on Thursday, February 27th. Macquarie restated an “outperform” rating and set a $18.00 target price on shares of Magnite in a research report on Friday, November 8th. Wolfe Research raised their target price on Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Magnite in a research report on Thursday, February 27th. Finally, Scotiabank started coverage on Magnite in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Institutional Investors Weigh In On Magnite

A number of institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Magnite during the fourth quarter worth $11,076,000. Western Wealth Management LLC bought a new position in Magnite during the fourth quarter worth about $159,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Magnite by 7.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 368,620 shares of the company’s stock worth $5,868,000 after acquiring an additional 24,659 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Magnite by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 35,432 shares of the company’s stock worth $564,000 after acquiring an additional 11,656 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Magnite during the fourth quarter worth about $251,000. 73.40% of the stock is owned by institutional investors and hedge funds.

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.