Magnite, Inc. (NASDAQ:MGNI) Stock Holdings Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 368,620 shares of the company's stock after purchasing an additional 24,659 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of Magnite worth $5,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MGNI. Capital Research Global Investors purchased a new stake in shares of Magnite during the 4th quarter valued at about $122,986,000. Boston Partners boosted its holdings in 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. Maestria Partners LLC purchased a new position in Magnite in the 4th quarter worth approximately $15,161,000. CenterBook Partners LP acquired a new stake in Magnite in the fourth quarter valued at approximately $9,962,000. Finally, Stephens Investment Management Group LLC grew its position in Magnite by 146.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company's stock valued at $15,867,000 after acquiring an additional 592,853 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MGNI. Susquehanna upped their target price on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research note on Thursday, February 27th. Craig Hallum set a $24.00 price objective on shares of Magnite and gave the stock a "buy" rating in a report on Tuesday, May 20th. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 price objective on shares of Magnite in a research report on Thursday, May 8th. Royal Bank of Canada lowered their target price on Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC boosted their price target on Magnite from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.58.

Magnite Stock Up 0.5%

NASDAQ:MGNI traded up $0.08 during mid-day trading on Wednesday, reaching $16.68. The stock had a trading volume of 1,150,087 shares, compared to its average volume of 2,121,258. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 278.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.73. Magnite, Inc. has a 1-year low of $8.22 and a 1-year high of $21.29. The stock's 50 day simple moving average is $12.87 and its two-hundred day simple moving average is $15.11.

Magnite (NASDAQ:MGNI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.06. Magnite had a return on equity of 4.64% and a net margin of 2.62%. The company had revenue of $145.85 million for the quarter, compared to the consensus estimate of $142.18 million. During the same quarter last year, the business posted $0.05 EPS. Magnite's quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Adam Lee Soroca sold 11,366 shares of the stock in a transaction dated Friday, May 16th. The shares were 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 in the company, valued at $6,875,850.41. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Gephart sold 6,334 shares of Magnite stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $16.16, for a total value of $102,357.44. Following the completion of the transaction, the chief accounting officer now owns 126,575 shares of the company's stock, valued at approximately $2,045,452. The trade was a 4.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,115 shares of company stock valued at $769,952 over the last 90 days. 3.80% of the stock is owned by company insiders.

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.