501,578 Shares in Magnite, Inc. $MGNI Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors acquired 501,578 Magnite shares worth approximately $5.96 million, giving it a 0.35% stake. Institutional investors collectively own 73.4% of MGNI.
• Magnite reported strong second-quarter results, with revenue up 11.3% year over year to $192.82 million and adjusted EPS of $0.26, ahead of analyst expectations. Connected TV contribution ex-TAC rose 36% to $97.1 million.
• Management raised its 2026 outlook, projecting 13%–14% contribution ex-TAC growth and adjusted EBITDA growth above 20%; analysts maintain a “Moderate Buy” consensus with an average price target of $24.56.

Pacer Advisors Inc. acquired a new position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 501,578 shares of the company's stock, valued at approximately $5,959,000. Pacer Advisors Inc. owned approximately 0.35% of Magnite as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MGNI. Stephens Investment Management Group LLC lifted its stake in Magnite by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company's stock worth $18,317,000 after purchasing an additional 164,035 shares during the last quarter. Royce & Associates LP increased its stake in shares of Magnite by 19.5% in the 4th quarter. Royce & Associates LP now owns 1,166,469 shares of the company's stock valued at $18,932,000 after purchasing an additional 190,318 shares during the last quarter. Meros Investment Management LP increased its stake in shares of Magnite by 34.5% in the 4th quarter. Meros Investment Management LP now owns 825,595 shares of the company's stock valued at $13,399,000 after purchasing an additional 211,767 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Magnite by 85.0% during the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company's stock worth $209,696,000 after buying an additional 5,937,428 shares in the last quarter. Finally, CenterBook Partners LP raised its holdings in shares of Magnite by 137.1% during the 4th quarter. CenterBook Partners LP now owns 172,546 shares of the company's stock worth $2,800,000 after buying an additional 99,760 shares in the last quarter. 73.40% of the stock is owned by institutional investors.

Insider Activity at Magnite

In related news, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction on Friday, July 10th. The shares were sold at an average price of $20.64, for a total transaction of $103,200.00. Following the completion of the transaction, the director owned 162,401 shares of the company's stock, valued at $3,351,956.64. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Buonasera sold 1,224 shares of Magnite stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $21.00, for a total value of $25,704.00. Following the completion of the transaction, the chief technology officer directly owned 268,485 shares of the company's stock, valued at approximately $5,638,185. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 491,639 shares of company stock valued at $8,676,734 over the last 90 days. 3.20% of the stock is owned by company insiders.

Key Headlines Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q2 results exceeded expectations. Revenue increased 11% year over year to $192.8 million, while non-GAAP EPS was $0.26 versus consensus estimates ranging from $0.15 to $0.25. Contribution ex-TAC reached $189.6 million, above the company’s $177 million-$181 million target range. Magnite Reports Second Quarter 2026 Results
• Positive Sentiment: CTV remained the primary growth engine. CTV contribution ex-TAC rose 36% year over year to $97.1 million, beating guidance of $90 million-$92 million. DV+ also returned to growth, increasing 2% to $92.5 million, suggesting broader stabilization across Magnite’s advertising platform. Magnite Q2 2026 Earnings Call Transcript
• Positive Sentiment: Profitability improved substantially. Adjusted EBITDA grew 30% to $70.6 million, with the margin expanding to 37% from 34% a year earlier. Net income increased to $19.4 million from $11.1 million, and operating cash flow was $57.4 million. Magnite Earnings Report
• Positive Sentiment: Management raised its 2026 outlook. Magnite now expects contribution ex-TAC growth of 13%-14%, adjusted EBITDA growth above 20%, an adjusted EBITDA margin of at least 37% and free-cash-flow growth in the high-40% range. Third-quarter contribution ex-TAC guidance of $188 million-$192 million is also above the roughly $185 million consensus estimate. Magnite Raises Full-Year 2026 Outlook
• Neutral Sentiment: Some financial-data reports described the quarter as a revenue-estimate miss, reflecting differences in revenue versus contribution ex-TAC estimates. However, the company’s reported revenue and core operating metrics exceeded the estimates cited in its earnings release, making the outlook upgrade the more important investor takeaway. Magnite Q2 Revenue Estimates Report

Magnite Price Performance

Shares of NASDAQ:MGNI opened at $20.67 on Thursday. The firm has a market cap of $2.96 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.06 and a beta of 2.26. The firm's fifty day moving average is $18.28 and its 200-day moving average is $14.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.02. Magnite, Inc. has a 52 week low of $10.82 and a 52 week high of $26.65.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. The business had revenue of $192.82 million during the quarter, compared to the consensus estimate of $179.15 million. Magnite had a return on equity of 8.40% and a net margin of 21.96%.Magnite's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. Sell-side analysts predict that Magnite, Inc. will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

MGNI has been the topic of several research analyst reports. Weiss Ratings raised Magnite from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Royal Bank Of Canada reissued an "outperform" rating on shares of Magnite in a research note on Thursday, May 28th. Evercore reissued an "outperform" rating and issued a $21.00 target price on shares of Magnite in a report on Thursday, May 7th. BTIG Research started coverage on shares of Magnite in a research note on Tuesday, June 9th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price target on shares of Magnite in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $24.56.

Magnite Profile

Magnite, Inc NASDAQ: MGNI operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).

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