1 week Ago By ABMN Staff
Shares of Magnite, Inc. ( NASDAQ:MGNI – Get Free Report ) gapped down before the market opened on Friday . The stock had previously closed at $13.
80, but opened at $13.33. Magnite shares last traded at $13.
65, with a volume of 26,904 shares trading hands. Analyst Upgrades and Downgrades Several brokerages have commented on MGNI. Needham & Company LLC reiterated a “buy” rating and set a $15.
00 price target on shares of Magnite in a report on Tuesday, July 9th. Lake Street Capital started coverage on shares of Magnite in a research note on Thursday, July 25th. They issued a “buy” rating and a $21.
00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Magnite from $17.00 to $19.
00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Bank of America raised their price objective on shares of Magnite from $15.00 to $17.
00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Craig Hallum restated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday, August 21st.
Ten analysts have rated the stock with a buy rating, According to MarketBeat, Magnite presently has an average rating of “Buy” and a consensus target price of $17.25. Get Our Latest Research Report on Magnite Magnite Price Performance Magnite ( NASDAQ:MGNI – Get Free Report ) last issued its earnings results on Wednesday, August 7th.
The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.
01). The firm had revenue of $162.88 million during the quarter, compared to the consensus estimate of $144.
04 million. Magnite had a positive return on equity of 3.74% and a negative net margin of 0.
83%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year.
During the same period last year, the business earned ($0.04) earnings per share. As a group, sell-side analysts predict that Magnite, Inc.
will post 0.31 earnings per share for the current fiscal year. Insider Buying and Selling In related news, CRO Sean Patrick Buckley sold 2,623 shares of the firm’s stock in a transaction on Monday, August 19th.
The stock was sold at an average price of $12.53, for a total value of $32,866.19.
Following the completion of the transaction, the executive now directly owns 331,742 shares of the company’s stock, valued at $4,156,727.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website .
In other news, insider Adam Lee Soroca sold 7,910 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.59, for a total value of $99,586.
90. Following the sale, the insider now owns 436,001 shares in the company, valued at approximately $5,489,252.59.
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, CRO Sean Patrick Buckley sold 2,623 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.
53, for a total transaction of $32,866.19. Following the completion of the sale, the executive now owns 331,742 shares in the company, valued at approximately $4,156,727.
26. The disclosure for this sale can be found here . Insiders sold a total of 316,001 shares of company stock valued at $4,408,998 over the last ninety days.
4.30% of the stock is owned by company insiders. Institutional Investors Weigh In On Magnite Institutional investors and hedge funds have recently made changes to their positions in the company.
Norges Bank acquired a new position in Magnite during the 4th quarter worth about $8,164,000. Granite Investment Partners LLC acquired a new position in Magnite during the 2nd quarter worth about $11,227,000. Driehaus Capital Management LLC acquired a new position in Magnite during the 2nd quarter worth about $9,938,000.
Grizzlyrock Capital LLC acquired a new position in Magnite during the 4th quarter worth about $6,656,000. Finally, Marshall Wace LLP lifted its position in Magnite by 59.0% during the 2nd quarter.
Marshall Wace LLP now owns 1,559,520 shares of the company’s stock worth $20,726,000 after buying an additional 578,678 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
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. Further Reading Receive News & Ratings for Magnite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnite and related companies with MarketBeat.
com's FREE daily email newsletter ..
