Lisanti Capital Growth LLC Sells 24,190 Shares of Magnite, Inc. (NASDAQ:MGNI)

Lisanti Capital Growth LLC reduced its position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,855 shares of the company's stock after selling 24,190 shares during the period. Lisanti Capital Growth LLC owned approximately 0.10% of Magnite worth $1,641,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Magnite by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 13,605,104 shares of the company's stock valued at $216,593,000 after buying an additional 257,032 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Magnite during the fourth quarter worth approximately $122,986,000. Wellington Management Group LLP raised its holdings in shares of Magnite by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 7,030,011 shares of the company's stock valued at $111,918,000 after buying an additional 450,341 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Magnite by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,524,643 shares of the company's stock worth $87,957,000 after purchasing an additional 170,532 shares during the last quarter. Finally, Boston Partners increased its holdings in Magnite by 39.1% in the fourth quarter. Boston Partners now owns 4,756,323 shares of the company's stock valued at $76,061,000 after purchasing an additional 1,336,458 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

Magnite Trading Up 14.6%

Shares of NASDAQ:MGNI traded up $3.09 during trading on Monday, reaching $24.19. 2,418,648 shares of the stock were exchanged, compared to its average volume of 2,554,944. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 0.98. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $24.22. The firm's 50-day moving average price is $15.85 and its 200 day moving average price is $15.32. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 120.93, a price-to-earnings-growth ratio of 1.72 and a beta of 2.87.

Magnite (NASDAQ:MGNI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. The company had revenue of $145.85 million during the quarter, compared to the consensus estimate of $142.18 million. Magnite had a return on equity of 6.71% and a net margin of 4.58%. Magnite's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, sell-side analysts anticipate that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MGNI shares. Wall Street Zen raised shares of Magnite from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Royal Bank Of Canada dropped their price objective on shares of Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $18.00 price target on shares of Magnite in a report on Thursday, May 8th. Craig Hallum set a $24.00 target price on shares of Magnite and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Lake Street Capital reduced 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. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Magnite has a consensus rating of "Moderate Buy" and an average price target of $19.58.

Insider Activity

In other news, insider Aaron Saltz sold 15,328 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $16.71, for a total value of $256,130.88. Following the transaction, the insider now owns 296,176 shares of the company's stock, valued at $4,949,100.96. This represents a 4.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Lee Soroca sold 11,366 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.73, for a total transaction of $178,787.18. Following the sale, the insider now owns 437,117 shares of the company's stock, valued at approximately $6,875,850.41. This represents a 2.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 840,743 shares of company stock valued at $16,021,928. 4.30% of the stock is owned by insiders.

Magnite 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.