Maestria Partners LLC Takes Position in Magnite, Inc. (NASDAQ:MGNI)

Maestria Partners LLC bought a new position in Magnite, Inc. (NASDAQ:MGNI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 952,317 shares of the company’s stock, valued at approximately $15,161,000. Magnite comprises about 6.0% of Maestria Partners LLC’s investment portfolio, making the stock its 9th biggest position. Maestria Partners LLC owned approximately 0.68% of Magnite as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MGNI. SBI Securities Co. Ltd. bought a new position in Magnite in the 4th quarter worth $25,000. Larson Financial Group LLC raised its stake in Magnite by 179.2% in the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock worth $58,000 after buying an additional 2,341 shares in the last quarter. Quarry LP lifted its holdings in Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares during the period. Jones Financial Companies Lllp boosted its position in Magnite by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock valued at $93,000 after acquiring an additional 1,000 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after acquiring an additional 2,374 shares during the period. 73.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Sean Patrick Buckley sold 18,693 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.00, for a total value of $373,860.00. Following the transaction, the insider now owns 408,529 shares of the company’s stock, valued at approximately $8,170,580. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Day sold 13,345 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $17.00, for a total transaction of $226,865.00. Following the sale, the chief financial officer now directly owns 374,014 shares of the company’s stock, valued at approximately $6,358,238. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,250 shares of company stock worth $4,945,720. 4.30% of the stock is owned by insiders.

Magnite Trading Up 5.3 %

Shares of NASDAQ:MGNI opened at $13.37 on Thursday. Magnite, Inc. has a 1 year low of $8.38 and a 1 year high of $21.29. The stock’s fifty day moving average price is $16.47 and its 200-day moving average price is $15.21. The company has a market cap of $1.91 billion, a P/E ratio of 222.83, a PEG ratio of 1.00 and a beta of 2.79. 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 (NASDAQ:MGNI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MGNI. Susquehanna lifted their price target on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research report on Thursday, February 27th. Scotiabank assumed coverage on shares of Magnite in a report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wolfe Research boosted their price objective on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Magnite in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.27.

Magnite Company Profile

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.