Stephens Investment Management Group LLC Has $15.87 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Stephens Investment Management Group LLC boosted its stake in Magnite, Inc. (NASDAQ:MGNI) by 146.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 996,644 shares of the company’s stock after acquiring an additional 592,853 shares during the period. Stephens Investment Management Group LLC’s holdings in Magnite were worth $15,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MGNI. Victory Capital Management Inc. raised its stake in Magnite by 2.9% during the third quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock worth $18,569,000 after buying an additional 37,601 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Magnite during the fourth quarter worth approximately $586,000. Jennison Associates LLC bought a new stake in Magnite in the fourth quarter worth approximately $818,000. Penbrook Management LLC lifted its stake in Magnite by 60.8% in the fourth quarter. Penbrook Management LLC now owns 38,480 shares of the company’s stock valued at $613,000 after buying an additional 14,550 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Magnite by 552.2% during the 3rd quarter. Principal Financial Group Inc. now owns 107,515 shares of the company’s stock worth $1,489,000 after buying an additional 91,031 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity

In related news, insider Sean Patrick Buckley sold 18,693 shares of the business’s stock in a transaction dated 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 directly owns 408,529 shares of the company’s stock, valued at approximately $8,170,580. The trade was a 4.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aaron Saltz sold 6,110 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $17.50, for a total transaction of $106,925.00. Following the sale, the insider now owns 297,482 shares of the company’s stock, valued at $5,205,935. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 566,458 shares of company stock valued at $10,135,410 over the last three months. Corporate insiders own 4.30% of the company’s stock.

Magnite Stock Performance

Shares of MGNI stock opened at $21.17 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $16.74 and a 200-day moving average of $14.68. Magnite, Inc. has a one year low of $8.38 and a one year high of $21.29. The company has a market cap of $2.98 billion, a P/E ratio of 352.83, a P/E/G ratio of 1.05 and a beta of 2.52.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.09). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The firm had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $147.94 million. During the same quarter last year, the business posted $0.02 EPS. Equities research analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Macquarie reiterated an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a research note on Friday, January 17th. Wolfe Research increased their price objective on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Royal Bank of Canada boosted their target price on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Scotiabank began coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.35.

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.