Dimensional Fund Advisors LP Has $87.96 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Dimensional Fund Advisors LP grew its position in Magnite, Inc. (NASDAQ:MGNI - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,524,643 shares of the company's stock after purchasing an additional 170,532 shares during the period. Dimensional Fund Advisors LP owned approximately 3.93% of Magnite worth $87,957,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Magnite by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 13,605,104 shares of the company's stock valued at $216,593,000 after purchasing an additional 257,032 shares during the period. Wellington Management Group LLP raised its position in shares of Magnite by 6.8% during the 4th quarter. Wellington Management Group LLP now owns 7,030,011 shares of the company's stock worth $111,918,000 after buying an additional 450,341 shares in the last quarter. Boston Partners lifted its stake in shares of Magnite by 39.1% in the 4th quarter. Boston Partners now owns 4,756,323 shares of the company's stock worth $76,061,000 after acquiring an additional 1,336,458 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Magnite by 8.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,873,835 shares of the company's stock valued at $29,831,000 after acquiring an additional 146,974 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Magnite by 7.4% during the fourth quarter. Royce & Associates LP now owns 1,597,896 shares of the company's stock valued at $25,439,000 after acquiring an additional 109,595 shares during the period. Institutional investors own 73.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Magnite in a research note on Monday, April 21st. Susquehanna raised their target price on Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research note on Thursday, February 27th. Royal Bank of Canada reduced their price objective on shares of Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Magnite in a report on Monday, April 21st. Finally, Wolfe Research lifted their price target on shares of Magnite from $14.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Magnite presently has an average rating of "Moderate Buy" and a consensus price target of $18.85.

Insider Buying and Selling

In other Magnite news, insider Adam Lee Soroca sold 15,499 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the sale, the insider now owns 458,386 shares in the company, valued at approximately $7,219,579.50. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Patrick Buckley sold 18,693 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.00, for a total value of $373,860.00. Following the sale, the insider now owns 408,529 shares in the company, valued at approximately $8,170,580. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,905 shares of company stock valued at $4,718,855 over the last three months. 4.30% of the stock is owned by corporate insiders.

Magnite Stock Performance

Shares of NASDAQ:MGNI traded up $0.17 during midday trading on Friday, hitting $12.11. The company's stock had a trading volume of 2,094,518 shares, compared to its average volume of 2,152,397. Magnite, Inc. has a fifty-two week low of $8.22 and a fifty-two week high of $21.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 201.83, a PEG ratio of 1.00 and a beta of 2.69. The stock's 50 day simple moving average is $12.19 and its 200 day simple moving average is $14.79.

Magnite (NASDAQ:MGNI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.14). The business had revenue of $180.20 million during 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%. As a group, research analysts anticipate that Magnite, Inc. will post 0.33 earnings per share for the current 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.