2 weeks Ago By ABMN Staff
Corebridge Financial Inc. lessened its holdings in Magnite, Inc. ( NASDAQ:MGNI – Free Report ) by 7.
0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,552 shares of the company’s stock after selling 4,721 shares during the period.
Corebridge Financial Inc.’s holdings in Magnite were worth $996,000 at the end of the most recent quarter. A number of other hedge funds have also modified their holdings of MGNI.
Advantage Alpha Capital Partners LP lifted its position in Magnite by 1.6% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 461,907 shares of the company’s stock valued at $7,354,000 after buying an additional 7,350 shares during the last quarter.
Vanguard Group Inc. raised its stake in shares of Magnite by 1.9% in the 4th quarter.
Vanguard Group Inc. now owns 13,605,104 shares of the company’s stock valued at $216,593,000 after acquiring an additional 257,032 shares during the period. LPL Financial LLC lifted its holdings in shares of Magnite by 50.
0% in the 4th quarter. LPL Financial LLC now owns 129,603 shares of the company’s stock worth $2,063,000 after acquiring an additional 43,207 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Magnite during the 4th quarter worth approximately $443,000.
Finally, Sei Investments Co. increased its holdings in Magnite by 86.9% in the 4th quarter.
Sei Investments Co. now owns 46,169 shares of the company’s stock valued at $735,000 after purchasing an additional 21,464 shares during the last quarter. 73.
40% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth A number of research analysts have commented on the company. Benchmark restated a “buy” rating and set a $25.
00 price target on shares of Magnite in a research note on Monday, March 10th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Magnite in a report on Wednesday.
Royal Bank of Canada lifted their target price on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd.
Susquehanna increased their price target on shares of Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research report on Thursday, February 27th.
Finally, Wells Fargo & Company raised their price objective on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th.
One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.27.
Magnite Stock Performance Shares of MGNI stock opened at $9.08 on Friday. The company has a market cap of $1.
30 billion, a P/E ratio of 151.33, a PEG ratio of 1.00 and a beta of 2.
69. The firm has a fifty day moving average price of $15.50 and a 200 day moving average price of $15.
07. The company has a current ratio of 1.11, a quick ratio of 1.
11 and a debt-to-equity ratio of 0.76. Magnite, Inc.
has a 12 month low of $8.38 and a 12 month high of $21.29.
Magnite ( NASDAQ:MGNI – Get Free Report ) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.
39 by ($0.14). Magnite had a return on equity of 4.
64% and a net margin of 2.62%. The business had revenue of $180.
20 million for the quarter, compared to analyst estimates of $183.90 million. Sell-side analysts predict that Magnite, Inc.
will post 0.33 earnings per share for the current fiscal year. Insider Buying and Selling at Magnite In related news, insider Adam Lee Soroca sold 15,499 shares of the business’s stock in a transaction on Monday, March 3rd.
The shares were sold at an average price of $15.75, for a total value of $244,109.25.
Following the completion of the sale, the insider now directly owns 458,386 shares of the company’s stock, valued at $7,219,579.50. The trade was a 3.
27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, insider Sean Patrick Buckley sold 18,693 shares of the firm’s stock in a transaction dated Friday, February 7th.
The stock was sold at an average price of $20.00, for a total value of $373,860.00.
Following the transaction, the insider now directly owns 408,529 shares in the company, valued at approximately $8,170,580. The trade was a 4.38 % decrease in their position.
The disclosure for this sale can be found here . Insiders have sold 244,905 shares of company stock worth $4,718,855 over the last three months. Insiders own 4.
30% of the company’s stock. About Magnite ( 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.
Featured Articles Want to see what other hedge funds are holding MGNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnite, Inc. ( NASDAQ:MGNI – Free Report ).
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