Magnite, Inc. (NASDAQ:MGNI) Insider Katie Seitz Evans Sells 20,000 Shares

Magnite, Inc. (NASDAQ:MGNI - Get Free Report) insider Katie Seitz Evans sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $18.50, for a total transaction of $370,000.00. Following the transaction, the insider now owns 442,788 shares in the company, valued at $8,191,578. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Katie Seitz Evans also recently made the following trade(s):

• On Thursday, June 5th, Katie Seitz Evans sold 35,000 shares of Magnite stock. The shares were sold at an average price of $17.36, for a total value of $607,600.00.

Magnite Trading Up 3.2%

NASDAQ:MGNI traded up $0.59 on Wednesday, reaching $18.82. The company's stock had a trading volume of 2,459,889 shares, compared to its average volume of 2,130,978. 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 1-year low of $8.22 and a 1-year high of $21.29. The business's 50-day moving average price is $14.33 and its two-hundred day moving average price is $15.18. The firm has a market cap of $2.66 billion, a PE ratio of 94.10, a PEG ratio of 1.52 and a beta of 2.87.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $18.00 price objective on shares of Magnite in a research report on Thursday, May 8th. Benchmark dropped their price target on shares of Magnite from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Royal Bank Of Canada cut their price objective on shares of Magnite from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Susquehanna lifted their target price on shares of Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a report on Thursday, February 27th. Finally, Lake Street Capital cut their price target on Magnite from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.58.

Institutional Investors Weigh In On Magnite

A number of hedge funds and other institutional investors have recently bought and sold shares of MGNI. Vanguard Group Inc. grew its holdings in shares of Magnite by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 13,743,521 shares of the company's stock valued at $156,814,000 after acquiring an additional 138,417 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Magnite during the 4th quarter worth approximately $122,986,000. Wellington Management Group LLP raised its position in shares of Magnite by 6.8% in the fourth quarter. Wellington Management Group LLP now owns 7,030,011 shares of the company's stock valued at $111,918,000 after purchasing an additional 450,341 shares during the period. Dimensional Fund Advisors LP lifted its position in Magnite by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,524,643 shares of the company's stock worth $87,957,000 after acquiring an additional 170,532 shares during the last quarter. Finally, Boston Partners boosted its stake in Magnite by 10.9% in the 1st quarter. Boston Partners now owns 5,276,356 shares of the company's stock valued at $60,187,000 after purchasing an additional 520,033 shares during the period. Institutional investors and hedge funds own 73.40% of the company's stock.

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.

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