Magnite, Inc. (NASDAQ:MGNI - Get Free Report) insider Aaron Saltz sold 16,788 shares of Magnite stock in a transaction on Monday, June 16th. The shares were sold at an average price of $17.50, for a total value of $293,790.00. Following the transaction, the insider now owns 279,388 shares of the company's stock, valued at $4,889,290. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Aaron Saltz also recently made the following trade(s):
- On Wednesday, June 4th, Aaron Saltz sold 15,328 shares of Magnite stock. The stock was sold at an average price of $16.71, for a total transaction of $256,130.88.
Magnite Price Performance
MGNI traded down $0.10 during trading on Friday, hitting $18.72. 2,166,857 shares of the company traded hands, compared to its average volume of 2,140,163. The company has a market cap of $2.64 billion, a PE ratio of 93.60, a P/E/G ratio of 1.53 and a beta of 2.87. The stock's 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $15.22. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $21.29. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47.
Magnite (NASDAQ:MGNI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. The firm had revenue of $145.85 million during the quarter, compared to analyst estimates of $142.18 million. Magnite had a return on equity of 6.71% and a net margin of 4.58%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. As a group, sell-side analysts anticipate that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have issued reports on MGNI shares. Lake Street Capital decreased their price objective on shares of Magnite from $21.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Susquehanna boosted 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. Benchmark decreased their price target on Magnite from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada decreased their target price on Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC boosted their target price on shares of Magnite from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Magnite has an average rating of "Moderate Buy" and an average target price of $19.58.
Check Out Our Latest Stock Report on Magnite
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of Magnite in the 4th quarter worth $25,000. MCF Advisors LLC grew its position in Magnite by 2,100.0% in the first 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 grew its position in Magnite by 74.9% in the first 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. AllSquare Wealth Management LLC grew its position in Magnite by 76.8% in the first quarter. AllSquare Wealth Management LLC now owns 3,580 shares of the company's stock worth $41,000 after acquiring an additional 1,555 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Magnite by 10,170.3% in the first quarter. GAMMA Investing LLC now owns 3,800 shares of the company's stock worth $43,000 after acquiring an additional 3,763 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.
About Magnite
(
Get Free Report)
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.
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