XTX Topco Ltd Purchases New Shares in Magnite, Inc. (NASDAQ:MGNI)

Key Points

• XTX Topco Ltd acquired a new position in Magnite, Inc. by purchasing 135,118 shares valued at approximately $1.54 million, equating to about 0.10% of the company's stock.
• Insider sales at Magnite show significant transactions, with the total of 959,227 shares sold worth $18.85 million over the last 90 days, indicating notable insider activity.
• Magnite recently reported an earnings per share (EPS) of $0.12, surpassing analysts' expectations and marking a year-over-year revenue increase of 4.3%.

XTX Topco Ltd bought a new position in Magnite, Inc. (NASDAQ:MGNI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 135,118 shares of the company's stock, valued at approximately $1,542,000. XTX Topco Ltd owned about 0.10% of Magnite as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors purchased a new position in shares of Magnite during the 4th quarter valued at about $122,986,000. Pacer Advisors Inc. purchased a new position in shares of Magnite during the 1st quarter valued at about $12,576,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Magnite during the 4th quarter valued at about $11,076,000. CenterBook Partners LP purchased a new position in shares of Magnite during the 4th quarter valued at about $9,962,000. Finally, Nine Ten Capital Management LLC lifted its position in shares of Magnite by 18.8% during the 4th quarter. Nine Ten Capital Management LLC now owns 3,115,849 shares of the company's stock valued at $49,604,000 after buying an additional 493,983 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Magnite news, CEO Michael G. Barrett sold 70,900 shares of Magnite stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $23.27, for a total value of $1,649,843.00. Following the sale, the chief executive officer owned 285,808 shares of the company's stock, valued at $6,650,752.16. The trade was a 19.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $23.53, for a total value of $117,650.00. Following the completion of the sale, the director directly owned 183,603 shares in the company, valued at approximately $4,320,178.59. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,227 shares of company stock worth $18,854,021. Insiders own 3.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MGNI shares. Royal Bank Of Canada upped their target price on shares of Magnite from $19.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 target price on shares of Magnite in a report on Thursday, May 8th. Wells Fargo & Company boosted their price target on Magnite from $13.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Needham & Company LLC boosted their price target on Magnite from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, May 12th. 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 issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.91.

Magnite Price Performance

NASDAQ:MGNI traded down $0.82 during trading hours on Friday, reaching $22.19. The stock had a trading volume of 2,310,219 shares, compared to its average volume of 2,952,484. 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 52 week low of $8.22 and a 52 week high of $25.27. The company has a 50 day moving average price of $20.74 and a two-hundred day moving average price of $16.59. The stock has a market capitalization of $3.13 billion, a PE ratio of 110.96, a PEG ratio of 1.88 and a beta of 3.05.

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

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.