Magnite (NASDAQ:MGNI) Director Robert Spillane Sells 12,500 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) Director Robert Spillane sold 12,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $14.22, for a total value of $177,750.00. Following the completion of the transaction, the director directly owned 53,917 shares of the company’s stock, valued at $766,699.74. This represents a 18.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Magnite Stock Up 7.2%

Shares of NASDAQ MGNI traded up $0.95 during mid-day trading on Friday, hitting $14.08. 4,524,795 shares of the stock traded hands, compared to its average volume of 2,813,033. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 48.55, a PEG ratio of 1.42 and a beta of 3.13. The stock has a fifty day moving average price of $18.69 and a 200-day moving average price of $20.15. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $26.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The business had revenue of $179.49 million during the quarter, compared to the consensus estimate of $163.29 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Magnite

A number of hedge funds have recently made changes to their positions in MGNI. Neo Ivy Capital Management purchased a new position in Magnite in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC lifted its stake in Magnite by 355.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock worth $37,000 after purchasing an additional 1,184 shares in the last quarter. US Bancorp DE lifted its stake in Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $35,000 after purchasing an additional 688 shares in the last quarter. State of Wyoming bought a new position in shares of Magnite during the 3rd quarter valued at about $39,000. Finally, CWM LLC grew its position in shares of Magnite by 133.6% during the second quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark upped their price objective on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Needham & Company LLC increased their target price on Magnite from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $39.00 price target on shares of Magnite in a research report on Thursday, November 6th. Royal Bank Of Canada increased their price objective on shares of Magnite from $19.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Susquehanna raised their price objective on shares of Magnite from $22.00 to $28.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Magnite currently has an average rating of “Moderate Buy” and a consensus price target of $26.20.

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.