Graham Capital Management L.P. Acquires 67,172 Shares of Magnite, Inc. (NASDAQ:MGNI)

Graham Capital Management L.P. raised its stake in Magnite, Inc. (NASDAQ:MGNI - Free Report) by 533.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,759 shares of the company's stock after acquiring an additional 67,172 shares during the period. Graham Capital Management L.P. owned about 0.06% of Magnite worth $1,270,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MGNI. SBI Securities Co. Ltd. bought a new stake in Magnite in the fourth quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of Magnite by 179.2% during the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock worth $58,000 after purchasing an additional 2,341 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Magnite during the fourth quarter worth $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 worth $93,000 after purchasing an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew 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 last quarter. 73.40% of the stock is currently owned by institutional investors.

Magnite Stock Down 2.1%

Shares of NASDAQ MGNI traded down $0.34 during mid-day trading on Friday, reaching $15.54. 1,707,768 shares of the company's stock were exchanged, compared to its average volume of 2,125,864. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 259.00, a PEG ratio of 1.00 and a beta of 2.73. 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 business has a fifty day simple moving average of $12.15 and a 200 day simple moving average of $14.98. Magnite, Inc. has a twelve month low of $8.22 and a twelve month high of $21.29.

Magnite (NASDAQ:MGNI - Get Free Report) last released its quarterly 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. The company had revenue of $145.85 million for the quarter, compared to analyst estimates of $142.18 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. Magnite's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, equities analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

MGNI has been the topic of several research analyst reports. Susquehanna increased their target price on Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a report on Thursday, February 27th. Rosenblatt Securities restated a "buy" rating and set a $18.00 target price on shares of Magnite in a report on Thursday, May 8th. Benchmark decreased their target price on Magnite from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Lake Street Capital decreased their target price on Magnite from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Needham & Company LLC raised their price target on Magnite from $14.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.92.

Insider Buying and Selling

In other Magnite news, CAO Brian Gephart sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 132,909 shares in the company, valued at $2,126,544. This trade represents a 4.49% 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 link. Also, insider Sean Patrick Buckley sold 10,527 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total value of $201,381.51. Following the completion of the transaction, the insider now owns 370,558 shares of the company's stock, valued at approximately $7,088,774.54. This represents a 2.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,668 shares of company stock worth $979,091. 3.80% of the stock is owned by corporate 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.