Magnite (NASDAQ:MGNI) Insider Sells $259,631.10 in Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,886 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $23.85, for a total value of $259,631.10. Following the transaction, the insider directly owned 336,508 shares in the company, valued at $8,025,715.80. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Sean Patrick Buckley also recently made the following trade(s):

• On Tuesday, August 19th, Sean Patrick Buckley sold 9,315 shares of Magnite stock. The shares were sold at an average price of $23.42, for a total value of $218,157.30.

Magnite Price Performance

NASDAQ:MGNI opened at $21.84 on Thursday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 75.31, a PEG ratio of 1.50 and a beta of 3.05. Magnite, Inc. has a 1-year low of $8.22 and a 1-year high of $25.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $22.27 and its 200 day moving average price is $17.13.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The firm had revenue of $162.00 million for the quarter, compared to the consensus estimate of $157.05 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Magnite

Large investors have recently made changes to their positions in the stock. MCF Advisors LLC boosted its stake in shares of Magnite by 2,100.0% during the 1st quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock worth $25,000 after acquiring an additional 2,100 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Magnite by 74.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock worth $33,000 after acquiring an additional 1,203 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock worth $37,000 after acquiring an additional 1,184 shares in the last quarter. AllSquare Wealth Management LLC boosted its stake in Magnite by 76.8% during the 1st quarter. AllSquare Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $41,000 after purchasing an additional 1,555 shares during the period. Finally, CWM LLC boosted its stake in Magnite by 133.6% during the 2nd quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after purchasing an additional 1,015 shares during the period. Institutional investors own 73.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen upgraded Magnite from a “hold” rating to a “buy” rating in a research note on Sunday, July 13th. Lake Street Capital lowered their target price on Magnite from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Scotiabank restated an “outperform” rating and issued a $30.00 target price (up previously from $22.00) on shares of Magnite in a research note on Thursday, August 7th. Susquehanna boosted their target price on Magnite from $22.00 to $28.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC upped their price target on Magnite from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.82.

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.