P.A.W. Capital Corp Has $1.71 Million Holdings in Magnite, Inc. (NASDAQ:MGNI)

P.A.W. Capital Corp lessened its holdings in Magnite, Inc. (NASDAQ:MGNI - Free Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the company's stock after selling 45,000 shares during the quarter. Magnite makes up approximately 4.2% of P.A.W. Capital Corp's holdings, making the stock its 10th biggest holding. P.A.W. Capital Corp owned about 0.11% of Magnite worth $1,712,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Magnite by 5.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,511,439 shares of the company's stock worth $24,062,000 after acquiring an additional 84,497 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Magnite by 14.5% during the 4th quarter. Principal Financial Group Inc. now owns 123,073 shares of the company's stock worth $1,959,000 after acquiring an additional 15,558 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Magnite by 7,043.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,643 shares of the company's stock worth $76,000 after acquiring an additional 6,550 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Magnite by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 368,620 shares of the company's stock worth $5,868,000 after acquiring an additional 24,659 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Magnite by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 13,605,104 shares of the company's stock worth $216,593,000 after acquiring an additional 257,032 shares during the last quarter. Institutional investors own 73.40% of the company's stock.

Insiders Place Their Bets

In related news, Director James Rossman sold 137,007 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $18.78, for a total value of $2,572,991.46. Following the completion of the transaction, the director directly owned 93,679 shares of the company's stock, valued at approximately $1,759,291.62. This trade represents a 59.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael G. Barrett sold 300,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $20.01, for a total transaction of $6,003,000.00. Following the completion of the transaction, the chief executive officer directly owned 356,708 shares of the company's stock, valued at $7,137,727.08. This represents a 45.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 840,743 shares of company stock valued at $16,021,928 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Magnite Stock Down 0.7%

Shares of MGNI traded down $0.18 during mid-day trading on Friday, hitting $24.49. 3,274,899 shares of the company's stock were exchanged, compared to its average volume of 2,216,710. The company has a market cap of $3.46 billion, a PE ratio of 74.33, a P/E/G ratio of 2.00 and a beta of 2.96. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $25.27. The company has a 50-day simple moving average of $17.11 and a 200 day simple moving average of $15.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.98.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Magnite from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Craig Hallum set a $24.00 price objective on shares of Magnite and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of Magnite from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada dropped their target price on shares of Magnite from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Benchmark dropped their target price on shares of Magnite from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.58.

About Magnite

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.