Tudor Investment Corp ET AL Trims Holdings in Magnite, Inc. (NASDAQ:MGNI)

Tudor Investment Corp ET AL reduced its stake in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 273,336 shares of the company's stock after selling 62,100 shares during the period. Tudor Investment Corp ET AL owned approximately 0.19% of Magnite worth $4,352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Susquehanna Fundamental Investments LLC purchased a new stake in Magnite during the fourth quarter worth $1,949,000. Oberweis Asset Management Inc. lifted its holdings in shares of Magnite by 2.9% in the fourth quarter. Oberweis Asset Management Inc. now owns 205,700 shares of the company's stock valued at $3,275,000 after purchasing an additional 5,700 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Magnite by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,893 shares of the company's stock worth $1,511,000 after purchasing an additional 9,075 shares in the last quarter. Atlas Merchant Capital LLC increased its position in Magnite by 65.0% during the fourth quarter. Atlas Merchant Capital LLC now owns 82,500 shares of the company's stock worth $1,313,000 after buying an additional 32,500 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Magnite by 20.7% in the fourth quarter. Stifel Financial Corp now owns 56,122 shares of the company's stock worth $893,000 after acquiring an additional 9,620 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Sean Patrick Buckley sold 18,693 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the sale, the insider now directly owns 408,529 shares of the company's stock, valued at approximately $8,170,580. This trade represents a 4.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Lee Soroca sold 15,499 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total transaction of $244,109.25. Following the completion of the transaction, the insider now owns 458,386 shares in the company, valued at $7,219,579.50. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 244,905 shares of company stock worth $4,718,855. 4.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on MGNI. Benchmark reiterated a "buy" rating and set a $25.00 price objective on shares of Magnite in a research report on Monday, April 21st. Rosenblatt Securities initiated coverage on shares of Magnite in a report on Tuesday, April 29th. They set a "buy" rating and a $18.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Magnite from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Royal Bank of Canada lowered their target price on shares of Magnite from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Magnite in a report on Monday, April 21st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.85.

Magnite Trading Up 1.2 %

MGNI stock traded up $0.14 during trading on Wednesday, reaching $12.47. 525,081 shares of the stock traded hands, compared to its average volume of 2,151,267. The business's 50 day moving average price is $11.91 and its 200-day moving average price is $14.80. The firm has a market capitalization of $1.76 billion, a PE ratio of 207.38, a P/E/G ratio of 1.00 and a beta of 2.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a 52-week low of $8.22 and a 52-week high of $21.29.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.14). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $180.20 million for the quarter, compared to analyst estimates of $183.90 million. As a group, sell-side analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current year.

About Magnite

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.