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Dimensional Fund Advisors LP grew its holdings in shares of Magnite, Inc. (NASDAQ:MGNI – Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,524,643 shares of the company’s stock after purchasing an additional 170,532 shares during the period. Dimensional Fund Advisors LP’s holdings in Magnite were worth $87,957,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Boston Partners raised its position in shares of Magnite by 39.1% in the 4th quarter. Boston Partners now owns 4,756,323 shares of the company’s stock valued at $76,061,000 after purchasing an additional 1,336,458 shares during the last quarter. Maestria Partners LLC purchased a new position in shares of Magnite in the fourth quarter worth $15,161,000. CenterBook Partners LP purchased a new position in shares of Magnite in the fourth quarter worth $9,962,000. Stephens Investment Management Group LLC lifted its stake in shares of Magnite by 146.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company’s stock worth $15,867,000 after buying an additional 592,853 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Magnite in the 4th quarter valued at $8,685,000. Institutional investors and hedge funds own 73.40% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Susquehanna boosted their price target on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Magnite in a research report on Monday, April 21st. Royal Bank of Canada lifted their price objective on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Rosenblatt Securities began coverage on shares of Magnite in a research note on Tuesday. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Magnite has an average rating of “Moderate Buy” and a consensus target price of $19.08.
Get Our Latest Research Report on MGNI
Magnite Trading Down 0.4 %
Shares of NASDAQ:MGNI opened at $12.30 on Wednesday. The business’s 50 day moving average price is $12.42 and its 200-day moving average price is $14.81. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $21.29. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 205.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69. 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 (NASDAQ:MGNI – Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.14). The company had revenue of $180.20 million during the quarter, compared to analyst estimates of $183.90 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. On average, equities research analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Paul Caine sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $20.35, for a total value of $101,750.00. Following the transaction, the director now directly owns 182,837 shares of the company’s stock, valued at approximately $3,720,732.95. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Gephart sold 6,250 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.00, for a total transaction of $100,000.00. Following the sale, the chief accounting officer now directly owns 132,909 shares of the company’s stock, valued at approximately $2,126,544. This represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 244,905 shares of company stock worth $4,718,855 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.
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.
See Also
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