Magnite, Inc. (NASDAQ:MGNI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Magnite, Inc. (NASDAQ:MGNI) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.27.

MGNI has been the topic of a number of analyst reports. Susquehanna lifted 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. Scotiabank assumed coverage on shares of Magnite in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Wolfe Research upped their price target on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Royal Bank of Canada raised their price objective 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. Finally, Wells Fargo & Company boosted their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th.

Insider Activity

In other Magnite news, CAO Brian Gephart sold 6,250 shares of the business’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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Lee Soroca sold 15,499 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.75, for a total transaction of $244,109.25. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,863 shares of company stock worth $5,169,262 in the last three months. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Magnite during the 4th quarter worth about $25,000. Larson Financial Group LLC grew its position in 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 in the last quarter. Quantbot Technologies LP bought a new position in Magnite during the fourth quarter valued at about $87,000. Quarry LP raised its holdings in Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after acquiring an additional 4,508 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Magnite by 20.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after acquiring an additional 1,000 shares during the period. 73.40% of the stock is owned by institutional investors.

Magnite Trading Up 1.0 %

Shares of NASDAQ:MGNI opened at $12.42 on Friday. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 207.00, a PEG ratio of 1.00 and a beta of 2.79. Magnite has a 1-year low of $8.38 and a 1-year high of $21.29. The company has a 50 day moving average price of $16.92 and a 200 day moving average price of $15.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.14). The company 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%. On average, research analysts anticipate that Magnite will post 0.33 EPS 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.