Brian Gephart Sells 6,250 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 6,250 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the transaction, the chief accounting officer now owns 132,909 shares of the company’s stock, valued at $2,126,544. The trade was a 4.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Magnite Stock Performance

NASDAQ:MGNI opened at $13.63 on Friday. The stock has a market cap of $1.95 billion, a P/E ratio of 227.17, a PEG ratio of 1.00 and a beta of 2.79. 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 business’s 50-day moving average price is $17.14 and its two-hundred day moving average price is $15.26. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their price target on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Susquehanna increased their price target on Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research note on Thursday, February 27th. Macquarie reiterated an “outperform” rating and set a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Magnite in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Magnite presently has an average rating of “Moderate Buy” and an average price target of $19.27.

Institutional Trading of Magnite

A number of large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Magnite during the 4th quarter valued at about $11,076,000. Western Wealth Management LLC bought a new stake in shares of Magnite during the 4th quarter valued at about $159,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Magnite by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 368,620 shares of the company’s stock valued at $5,868,000 after acquiring an additional 24,659 shares during the last quarter. ProShare Advisors LLC lifted its position in Magnite by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 35,432 shares of the company’s stock worth $564,000 after buying an additional 11,656 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in Magnite in the 4th quarter worth approximately $251,000. Institutional investors own 73.40% of the company’s stock.

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.