Magnite, Inc. (NASDAQ:MGNI) Stock Position Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 20.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,853 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Jones Financial Companies Lllp’s holdings in Magnite were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGNI. Quarry LP raised its stake in shares of Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after purchasing an additional 4,508 shares in the last quarter. KBC Group NV raised its stake in shares of Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Magnite by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 9,886 shares of the company’s stock worth $157,000 after purchasing an additional 2,968 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Magnite during the 3rd quarter worth about $220,000. Finally, Quest Partners LLC purchased a new stake in shares of Magnite during the 3rd quarter worth about $233,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Magnite Price Performance

Shares of NASDAQ:MGNI opened at $12.60 on Monday. Magnite, Inc. has a 1-year low of $8.38 and a 1-year high of $21.29. The firm has a market capitalization of $1.80 billion, a PE ratio of 210.00, a PEG ratio of 1.00 and a beta of 2.79. The business’s 50 day moving average is $16.69 and its 200-day moving average is $15.23. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.14). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The firm had revenue of $180.20 million for the quarter, compared to analyst estimates of $183.90 million. Sell-side analysts predict that Magnite, Inc. will post 0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Susquehanna raised their price target on Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research note on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. Scotiabank assumed coverage on Magnite in a report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective on the stock. Wells Fargo & Company increased their price objective on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Wolfe Research increased their price objective on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Magnite currently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

Insider Transactions at Magnite

In related news, Director Paul Caine sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the completion of the transaction, the director now owns 182,837 shares in the company, valued at $3,720,732.95. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Gephart sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $16.00, for a total value of $100,000.00. Following the transaction, the chief accounting officer now owns 132,909 shares of the company’s stock, valued at $2,126,544. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,250 shares of company stock valued at $4,945,720. 4.30% of the stock is owned by corporate insiders.

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.