Key Points
- Director Robert Spillane sold 12,500 Magnite shares on Nov. 21 at an average price of $14.22 for total proceeds of $177,750, reducing his stake by 18.82% to 53,917 shares (SEC filing disclosed).
- Q3 results beat revenue expectations — Magnite reported $0.20 EPS (in line with estimates) and revenue of $179.49 million, up 11.6% year‑over‑year and above the $163.29 million consensus.
- Shares traded up to $14.08 on elevated volume, the stock has a 52‑week range of $8.22–$26.65, and analysts hold a consensus "Moderate Buy" with an average price target of $26.20 after several target upgrades.
Magnite, Inc. (NASDAQ:MGNI - Get Free Report) Director Robert Spillane sold 12,500 shares of the business's stock in a transaction on Friday, November 21st. The stock was sold at an average price of $14.22, for a total transaction of $177,750.00. Following the completion of the sale, the director owned 53,917 shares in the company, valued at $766,699.74. This represents a 18.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Magnite Price Performance
MGNI stock traded up $0.95 during trading on Friday, hitting $14.08. 4,524,795 shares of the company's stock traded hands, compared to its average volume of 2,813,033. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $26.65. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 48.55, a P/E/G ratio of 1.42 and a beta of 3.13. The business has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $20.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.
Magnite (NASDAQ:MGNI - Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The firm had revenue of $179.49 million for the quarter, compared to analysts' expectations of $163.29 million. During the same period in the prior year, the company earned $0.17 EPS. The business's revenue was up 11.6% compared to the same quarter last year. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently commented on MGNI shares. Royal Bank Of Canada lifted their target price on Magnite from $19.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Scotiabank reiterated an "outperform" rating and set a $30.00 price objective (up previously from $22.00) on shares of Magnite in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Magnite from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Needham & Company LLC lifted their price target on shares of Magnite from $18.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Susquehanna upped their price target on shares of Magnite from $22.00 to $28.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.20.
Read Our Latest Research Report on Magnite
Institutional Trading of Magnite
Several institutional investors and hedge funds have recently made changes to their positions in MGNI. Stephens Inc. AR boosted its stake in shares of Magnite by 0.6% during the third quarter. Stephens Inc. AR now owns 83,468 shares of the company's stock valued at $1,818,000 after purchasing an additional 517 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Magnite by 20.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,387 shares of the company's stock valued at $82,000 after buying an additional 577 shares in the last quarter. Winthrop Advisory Group LLC boosted its position in Magnite by 4.5% in the 2nd quarter. Winthrop Advisory Group LLC now owns 14,000 shares of the company's stock valued at $338,000 after buying an additional 600 shares during the period. US Bancorp DE grew its stake in Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company's stock worth $35,000 after acquiring an additional 688 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Magnite by 45.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company's stock worth $53,000 after acquiring an additional 755 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.
Magnite Company Profile
(
Get Free Report)
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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