Magnite, Inc. (NASDAQ:MGNI) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust boosted its position in Magnite, Inc. (NASDAQ:MGNI) by 42.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,886 shares of the company’s stock after purchasing an additional 2,968 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Magnite were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in shares of Magnite by 2.0% in the fourth quarter. Truist Financial Corp now owns 34,242 shares of the company’s stock valued at $545,000 after buying an additional 674 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Magnite by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after acquiring an additional 892 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Magnite by 4.7% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 25,377 shares of the company’s stock valued at $404,000 after acquiring an additional 1,148 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Magnite by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,449 shares of the company’s stock worth $408,000 after purchasing an additional 2,298 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares during the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Susquehanna upped their target price on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research note on Thursday. Scotiabank assumed coverage on shares of Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. Benchmark raised their target price on shares of Magnite from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday. Wolfe Research boosted their target price on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Magnite in a research note on Thursday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Insider Buying and Selling at Magnite

In other news, CTO David Buonasera sold 1,969 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the completion of the transaction, the chief technology officer now directly owns 223,795 shares in the company, valued at approximately $3,650,096.45. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael G. Barrett sold 147,996 shares of Magnite stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $17.52, for a total transaction of $2,592,889.92. Following the sale, the chief executive officer now directly owns 634,914 shares in the company, valued at $11,123,693.28. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 398,110 shares of company stock valued at $7,418,043 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Magnite Stock Performance

NASDAQ:MGNI opened at $15.77 on Friday. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 262.83, a PEG ratio of 1.00 and a beta of 2.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm’s fifty day simple moving average is $17.30 and its 200 day simple moving average is $15.22.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The company had revenue of $180.20 million for the quarter, compared to analyst estimates of $183.90 million. As a group, equities research analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

About Magnite

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.