Magnite, Inc. $MGNI is Maestria Partners LLC’s 5th Largest Position

Maestria Partners LLC lessened its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 20.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,141,171 shares of the company’s stock after selling 293,146 shares during the period. Magnite makes up about 7.9% of Maestria Partners LLC’s holdings, making the stock its 5th biggest position. Maestria Partners LLC owned 0.80% of Magnite worth $24,855,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Magnite by 355.6% in the second quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock worth $37,000 after purchasing an additional 1,184 shares during the period. CWM LLC grew its position in Magnite by 133.6% during the second quarter. CWM LLC now owns 1,775 shares of the company’s stock worth $43,000 after buying an additional 1,015 shares in the last quarter. USA Financial Formulas bought a new position in Magnite in the 3rd quarter worth about $40,000. MTM Investment Management LLC purchased a new stake in shares of Magnite in the 2nd quarter valued at about $58,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Magnite during the 3rd quarter valued at about $56,000. 73.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MGNI shares. Wall Street Zen lowered Magnite from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Magnite in a research report on Thursday, November 6th. Benchmark reissued a “buy” rating on shares of Magnite in a research note on Monday, January 12th. Wells Fargo & Company dropped their price target on Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Magnite in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insiders Place Their Bets

In other Magnite news, Director Robert F. Spillane sold 12,500 shares of Magnite stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $14.22, for a total value of $177,750.00. Following the transaction, the director directly owned 53,917 shares of the company’s stock, valued at $766,699.74. The trade was a 18.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Patrick Buckley sold 4,426 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $13.36, for a total value of $59,131.36. Following the completion of the sale, the insider owned 271,125 shares of the company’s stock, valued at $3,622,230. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 44,439 shares of company stock valued at $663,671 in the last ninety days. Company insiders own 3.80% of the company’s stock.

Magnite Stock Performance

Magnite stock opened at $15.41 on Friday. The firm has a fifty day simple moving average of $15.44 and a two-hundred day simple moving average of $19.41. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Magnite, Inc. has a twelve month low of $8.22 and a twelve month high of $26.65. The company has a market capitalization of $2.21 billion, a PE ratio of 40.55, a P/E/G ratio of 0.84 and a beta of 2.35.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. Magnite had a return on equity of 8.74% and a net margin of 8.25%.The firm had revenue of $179.49 million for the quarter, compared to analysts’ expectations of $163.29 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts expect that Magnite, Inc. will post 0.33 EPS for the current year.

Magnite 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).