Woodmont Investment Counsel LLC Has $244,000 Stock Position in Magnite, Inc. (NASDAQ:MGNI)

Woodmont Investment Counsel LLC lessened its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,350 shares of the company’s stock after selling 6,000 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Magnite were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in Magnite during the 4th quarter worth about $25,000. Larson Financial Group LLC raised its stake in shares of Magnite by 179.2% during 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 during the last quarter. Quantbot Technologies LP bought a new stake in shares of Magnite during the fourth quarter worth approximately $87,000. 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 valued at $76,000 after buying an additional 4,508 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Magnite by 20.6% in the fourth 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 during the last quarter. Institutional investors own 73.40% of the company’s stock.

Insider Buying and Selling at Magnite

In other news, CAO Brian Gephart sold 6,250 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the completion of the transaction, the chief accounting officer now owns 132,909 shares in the company, valued at $2,126,544. This trade represents a 4.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Lee Soroca sold 15,499 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.75, for a total value of $244,109.25. Following the sale, the insider now owns 458,386 shares in the company, valued at $7,219,579.50. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,250 shares of company stock worth $4,945,720. Corporate insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on MGNI shares. Wells Fargo & Company upped their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Scotiabank started coverage on Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price objective for the company. Royal Bank of Canada raised their target price on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Susquehanna boosted 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. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Magnite in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Magnite currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Magnite Stock Down 0.2 %

Shares of MGNI stock opened at $13.28 on Tuesday. Magnite, Inc. has a 12-month low of $8.38 and a 12-month high of $21.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average of $16.32 and a 200-day moving average of $15.22. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 221.33, a P/E/G ratio of 1.00 and a beta of 2.79.

Magnite (NASDAQ:MGNI) last released its 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). The firm had revenue of $180.20 million for the quarter, compared to the consensus estimate of $183.90 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. As a group, equities research analysts predict that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

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.