Mount Yale Investment Advisors LLC Has $404,000 Stock Position in Magnite, Inc. (NASDAQ:MGNI)

Mount Yale Investment Advisors LLC boosted its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,377 shares of the company’s stock after purchasing an additional 1,148 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Magnite were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. New Century Financial Group LLC acquired a new position in Magnite in the second quarter valued at approximately $640,000. Victory Capital Management Inc. lifted its stake in shares of Magnite by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock valued at $18,569,000 after purchasing an additional 37,601 shares during the period. Merit Financial Group LLC bought a new position in shares of Magnite in the 4th quarter worth $586,000. Principal Financial Group Inc. grew its stake in shares of Magnite by 552.2% during the third quarter. Principal Financial Group Inc. now owns 107,515 shares of the company’s stock worth $1,489,000 after purchasing an additional 91,031 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Magnite during the third quarter worth $649,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Magnite

In related news, insider Aaron Saltz sold 5,112 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.50, for a total transaction of $69,012.00. Following the completion of the transaction, the insider now directly owns 307,745 shares of the company’s stock, valued at approximately $4,154,557.50. This represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Day sold 13,345 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.00, for a total value of $226,865.00. Following the sale, the chief financial officer now owns 374,014 shares in the company, valued at approximately $6,358,238. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 366,097 shares of company stock worth $6,165,147 in the last three months. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Scotiabank began coverage on shares of Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Magnite in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Magnite presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.35.

Magnite Stock Up 5.1 %

Shares of Magnite stock opened at $17.65 on Wednesday. The firm has a market cap of $2.48 billion, a PE ratio of 294.17, a P/E/G ratio of 0.84 and a beta of 2.51. The business’s 50 day simple moving average is $16.46 and its 200 day simple moving average is $14.49. 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, Inc. has a 52-week low of $8.38 and a 52-week high of $18.38.

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