Magnite, Inc. (NASDAQ:MGNI - Get Free Report) Director Sarah Patricia Harden sold 18,436 shares of Magnite stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $24.00, for a total value of $442,464.00. Following the completion of the transaction, the director owned 114,751 shares of the company's stock, valued at approximately $2,754,024. This represents a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sarah Patricia Harden also recently made the following trade(s):
- On Wednesday, August 26th, Sarah Patricia Harden sold 30,550 shares of Magnite stock. The stock was sold at an average price of $23.31, for a total value of $712,120.50.
Magnite Stock Performance
Shares of MGNI stock opened at $23.70 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Magnite, Inc. has a 12-month low of $10.82 and a 12-month high of $26.63. The business's 50 day moving average is $21.04 and its two-hundred day moving average is $15.99. The company has a market capitalization of $3.40 billion, a P/E ratio of 21.74, a P/E/G ratio of 1.02 and a beta of 2.26.
Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $192.82 million during the quarter, compared to analysts' expectations of $179.15 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%.The business's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Analysts expect that Magnite, Inc. will post 0.61 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MGNI. Scotiabank restated an "outperform" rating and set a $27.00 price objective on shares of Magnite in a research report on Thursday, August 6th. B. Riley Financial boosted their target price on shares of Magnite from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Evercore reissued an "outperform" rating and set a $25.00 target price on shares of Magnite in a research note on Thursday, August 6th. BTIG Research upped their price target on shares of Magnite from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Susquehanna raised their price target on shares of Magnite from $22.00 to $30.00 and gave the company a "positive" rating in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Magnite presently has an average rating of "Moderate Buy" and a consensus target price of $28.30.
Read Our Latest Analysis on MGNI
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Magnite by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company's stock valued at $854,000 after purchasing an additional 3,267 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Magnite by 113.7% during the first quarter. Millennium Management LLC now owns 434,479 shares of the company's stock worth $4,957,000 after buying an additional 231,213 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Magnite by 24.3% during the first quarter. Jones Financial Companies Lllp now owns 7,276 shares of the company's stock worth $83,000 after buying an additional 1,423 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Magnite by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 404,717 shares of the company's stock valued at $4,618,000 after buying an additional 36,097 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Magnite by 103.6% in the first quarter. Intech Investment Management LLC now owns 109,992 shares of the company's stock valued at $1,255,000 after buying an additional 55,971 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.
Magnite Company Profile
(
Get Free Report)
Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.
At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).
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