Universal Beteiligungs und Servicegesellschaft mbH Takes $11.08 Million Position in Magnite, Inc. (NASDAQ:MGNI)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 695,754 shares of the company's stock, valued at approximately $11,076,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.49% of Magnite as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Magnite in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in Magnite by 179.2% in the 4th quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock valued at $58,000 after acquiring an additional 2,341 shares during the period. Quantbot Technologies LP acquired a new position in Magnite in the 4th quarter valued at approximately $87,000. Jones Financial Companies Lllp raised its stake in shares of Magnite by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company's stock valued at $93,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company's stock worth $95,000 after purchasing an additional 2,374 shares during the period. Institutional investors own 73.40% of the company's stock.

Magnite Stock Up 0.5%

Magnite stock traded up $0.08 during midday trading on Wednesday, reaching $16.68. The stock had a trading volume of 1,150,087 shares, compared to its average volume of 2,119,583. The company has a fifty day moving average price of $12.97 and a two-hundred day moving average price of $15.12. Magnite, Inc. has a 12 month low of $8.22 and a 12 month high of $21.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.35 billion, a P/E ratio of 278.00, a PEG ratio of 1.00 and a beta of 2.73.

Magnite (NASDAQ:MGNI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. Magnite had a return on equity of 4.64% and a net margin of 2.62%. The firm had revenue of $145.85 million during the quarter, compared to the consensus estimate of $142.18 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Magnite

In other news, insider Adam Lee Soroca sold 11,366 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $15.73, for a total value of $178,787.18. Following the transaction, the insider now owns 437,117 shares in the company, valued at $6,875,850.41. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Patrick Buckley sold 9,692 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.73, for a total value of $152,455.16. Following the sale, the insider now owns 347,394 shares of the company's stock, valued at $5,464,507.62. This trade represents a 2.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,115 shares of company stock valued at $769,952. Corporate insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Benchmark decreased their target price on shares of Magnite from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Royal Bank of Canada decreased 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, May 2nd. Rosenblatt Securities reissued a "buy" rating and set a $18.00 target price on shares of Magnite in a research note on Thursday, May 8th. Susquehanna boosted their target price on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a report on Thursday, February 27th. Finally, Craig Hallum set a $24.00 price target on Magnite and gave the stock a "buy" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.58.

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.