Magnite (NASDAQ:MGNI) Insider Katie Seitz Evans Sells 32,285 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Katie Evans sold 32,285 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $23.63, for a total value of $762,894.55. Following the transaction, the insider directly owned 466,897 shares of the company’s stock, valued at approximately $11,032,776.11. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 9th, Katie Evans sold 11,100 shares of Magnite stock. The stock was sold at an average price of $23.46, for a total value of $260,406.00.
• On Thursday, August 6th, Katie Evans sold 20,000 shares of Magnite stock. The shares were sold at an average price of $24.00, for a total value of $480,000.00.

Magnite Trading Down 0.1%

Shares of Magnite stock opened at $23.55 on Friday. The business has a fifty day simple moving average of $21.97 and a 200-day simple moving average of $16.79. Magnite, Inc. has a fifty-two week low of $10.82 and a fifty-two week high of $26.19. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.03 and a beta of 2.30. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Magnite had a return on equity of 9.33% and a net margin of 22.49%.The firm had revenue of $192.82 million for the quarter, compared to analyst estimates of $179.15 million. During the same period in the previous year, the company earned $0.20 earnings per share. Magnite’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Magnite, Inc. will post 0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnite in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Magnite in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Magnite in a report on Thursday, August 6th. Finally, Scotiabank reiterated an “outperform” rating and set a $27.00 price objective on shares of Magnite in a research report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Magnite has an average rating of “Moderate Buy” and a consensus price target of $28.80.

Hedge Funds Weigh In On Magnite

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGNI. Nykredit A S acquired a new stake in Magnite during the 2nd quarter valued at $25,000. EFG International AG acquired a new stake in shares of Magnite in the second quarter worth $28,000. Allworth Financial LP purchased a new position in shares of Magnite during the second quarter valued at $30,000. US Bancorp DE grew its holdings in shares of Magnite by 75.8% during the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after buying an additional 688 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Magnite by 106.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock valued at $45,000 after buying an additional 1,949 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Trending Headlines about Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite and ITN expanded their partnership to launch an agentic-AI solution through Magnite Orchestration for local linear television advertising. The technology is designed to reduce campaign-buying timelines from several weeks to hours, potentially improving advertiser adoption and Magnite’s transaction volumes. Magnite and ITN Expand Partnership to Introduce Agentic AI Solution for Local Linear TV
• Positive Sentiment: Telly expanded its partnership with Magnite, enabling advertisers to programmatically purchase Home Screen advertising on Telly’s connected-TV devices. The deal builds on Magnite’s SpringServe ad-server relationship and broadens its access to streaming inventory. Telly Takes Television Advertising Beyond The Commercial Break
• Positive Sentiment: BTIG reaffirmed its Buy rating and maintained a $27 price target, implying roughly 14.6% potential upside from the referenced share price. The endorsement supports the view that Magnite’s connected-TV and programmatic advertising growth remains undervalued.
• Neutral Sentiment: Magnite presented at the Bank of America Media, Communications & Entertainment Conference. The transcript may provide additional management commentary, but no major new financial guidance was highlighted in the available report. Bank of America Conference Transcript
• Neutral Sentiment: Reported short interest was zero shares, with a zero-day days-to-cover ratio. Because the figures show no measurable short position, this data offers little insight into near-term trading pressure.
• Negative Sentiment: Insider Katie Evans sold a combined 43,385 shares for approximately $1.02 million. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, although the sales can still weigh modestly on sentiment.
• Negative Sentiment: Magnite did not participate in the broader ad-tech rally that lifted Digital Turbine and AppLovin, indicating investors may want stronger evidence that the new AI and connected-TV initiatives will translate into accelerating revenue and earnings.

Magnite Company Profile

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).