Magnite, Inc. (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 18,693 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 18,693 shares of Magnite stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.00, for a total value of $373,860.00. Following the completion of the sale, the insider now directly owns 408,529 shares in the company, valued at $8,170,580. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 18th, Sean Patrick Buckley sold 10,001 shares of Magnite stock. The stock was sold at an average price of $15.60, for a total transaction of $156,015.60.

Magnite Stock Up 10.6 %

NASDAQ:MGNI opened at $21.17 on Friday. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $21.29. The stock’s fifty day moving average is $16.65 and its two-hundred day moving average is $14.65. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 352.83, a price-to-earnings-growth ratio of 1.05 and a beta of 2.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Magnite (NASDAQ:MGNI) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The firm had revenue of $162.00 million for the quarter, compared to analysts’ expectations of $147.94 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. During the same quarter last year, the business earned $0.02 earnings per share. Research analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGNI. Truist Financial Corp lifted its holdings in Magnite by 42.9% during the 2nd quarter. Truist Financial Corp now owns 68,307 shares of the company’s stock worth $908,000 after buying an additional 20,517 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Magnite by 6.4% in the third quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock valued at $392,000 after acquiring an additional 1,696 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Magnite by 29.6% in the third quarter. Wedge Capital Management L L P NC now owns 123,138 shares of the company’s stock valued at $1,705,000 after acquiring an additional 28,108 shares in the last quarter. Blue Trust Inc. boosted its holdings in Magnite by 87.0% in the third quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock valued at $105,000 after purchasing an additional 3,689 shares during the period. Finally, Vicus Capital acquired a new position in Magnite during the 3rd quarter worth $164,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the subject of several research reports. Scotiabank started coverage on shares of Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Friday, January 17th. Wells Fargo & Company lifted their price objective on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Macquarie restated an “outperform” rating and issued a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price target on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.