2 weeks Ago By Defense World Staff
KLP Kapitalforvaltning AS purchased a new position in shares of Magnite, Inc. (NASDAQ:MGNI – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 27,800 shares of the company’s stock, valued at approximately $443,000.
Several other large investors also recently modified their holdings of MGNI. Wellington Management Group LLP increased its position in Magnite by 125.3% in the third quarter.
Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after buying an additional 3,659,759 shares during the last quarter. Boston Partners grew its stake in shares of Magnite by 39.1% during the 4th quarter.
Boston Partners now owns 4,756,323 shares of the company’s stock worth $76,061,000 after acquiring an additional 1,336,458 shares during the period. Geode Capital Management LLC increased its holdings in Magnite by 2.2% in the 3rd quarter.
Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock worth $41,118,000 after acquiring an additional 63,545 shares during the last quarter. Nomura Asset Management Co. Ltd.
bought a new stake in Magnite in the 3rd quarter valued at about $23,917,000. Finally, Royce & Associates LP raised its stake in Magnite by 7.4% in the 4th quarter.
Royce & Associates LP now owns 1,597,896 shares of the company’s stock valued at $25,439,000 after acquiring an additional 109,595 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.
Magnite Stock Down 6.4 %Shares of MGNI opened at $9.08 on Friday.
The firm has a market cap of $1.30 billion, a P/E ratio of 151.33, a P/E/G ratio of 1.
00 and a beta of 2.69. The company has a debt-to-equity ratio of 0.
76, a current ratio of 1.11 and a quick ratio of 1.11.
Magnite, Inc. has a 1 year low of $8.38 and a 1 year high of $21.
29. The stock has a 50 day simple moving average of $15.50 and a two-hundred day simple moving average of $15.
07. Magnite (NASDAQ:MGNI – Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.
25 earnings per share 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 company had revenue of $180.20 million for the quarter, compared to analysts’ expectations of $183.90 million.
On average, analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.
Wall Street Analyst Weigh InSeveral research firms have recently weighed in on MGNI. Wells Fargo & Company lifted their target price on shares of Magnite from $13.00 to $15.
00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday.
Susquehanna increased 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.
Wolfe Research boosted their price objective on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd.
Finally, Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock.
Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.27.Read Our Latest Research Report on MagniteInsider Buying and Selling at MagniteIn other Magnite news, CAO Brian Gephart sold 6,250 shares of the business’s stock in a transaction on Monday, March 3rd.
The shares were sold at an average price of $16.00, for a total transaction of $100,000.00.
Following the transaction, the chief accounting officer now directly owns 132,909 shares of the company’s stock, valued at approximately $2,126,544. The trade was a 4.49 % decrease in their position.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Lee Soroca sold 15,499 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.
75, for a total transaction 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 approximately $7,219,579.
50. This represents a 3.27 % decrease in their ownership of the stock.
The disclosure for this sale can be found here. Insiders sold 244,905 shares of company stock valued at $4,718,855 in the last quarter. Company 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.
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