Williams Jones Wealth Management LLC. Has $9.59 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Williams Jones Wealth Management LLC. trimmed its stake in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 602,244 shares of the company's stock after selling 72,277 shares during the period. Williams Jones Wealth Management LLC. owned about 0.43% of Magnite worth $9,588,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Susquehanna boosted their price objective on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research report on Thursday, February 27th. Benchmark lowered their price target 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. Needham & Company LLC increased their price objective on Magnite from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Royal Bank of Canada reduced their price objective on Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 target price on shares of Magnite in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.92.

Magnite Stock Down 1.4%

Shares of Magnite stock opened at $15.32 on Tuesday. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $21.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $12.19 and a two-hundred day moving average price of $15.01. The stock has a market capitalization of $2.16 billion, a P/E ratio of 255.33, a PEG ratio of 1.00 and a beta of 2.73.

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

Insider Buying and Selling

In related news, insider Sean Patrick Buckley sold 10,527 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total transaction of $201,381.51. Following the completion of the transaction, the insider now directly owns 370,558 shares in the company, valued at $7,088,774.54. This represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Gephart sold 6,250 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.00, for a total transaction of $100,000.00. Following the transaction, the chief accounting officer now owns 132,909 shares in the company, valued at approximately $2,126,544. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,668 shares of company stock valued at $979,091. Insiders own 3.80% of the company's stock.

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.

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