Magnite, Inc. (NASDAQ:MGNI) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Magnite, Inc. (NASDAQ:MGNI) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,049,412 shares of the company’s stock after buying an additional 16,308 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Magnite worth $16,707,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MGNI. SBI Securities Co. Ltd. acquired a new position in shares of Magnite in the 4th quarter valued at $25,000. Quarry LP lifted its stake in Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after buying an additional 4,508 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Magnite by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV increased its position in shares of Magnite by 66.5% in the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after acquiring an additional 2,374 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Magnite by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 9,886 shares of the company’s stock valued at $157,000 after acquiring an additional 2,968 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Trading Up 0.3 %

Shares of NASDAQ:MGNI opened at $13.41 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.92 billion, a PE ratio of 223.50, a P/E/G ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a 1 year low of $8.38 and a 1 year high of $21.29. The firm has a fifty day moving average price of $16.41 and a 200 day moving average price of $15.20.

Magnite (NASDAQ:MGNI) last released its quarterly 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). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The company had revenue of $180.20 million for the quarter, compared to the consensus estimate of $183.90 million. Analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Magnite

In related news, insider Adam Lee Soroca sold 15,499 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,219,579.50. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Day sold 13,345 shares of Magnite stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.00, for a total value of $226,865.00. Following the completion of the transaction, the chief financial officer now directly owns 374,014 shares in the company, valued at approximately $6,358,238. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,250 shares of company stock worth $4,945,720 over the last 90 days. Insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Susquehanna upped their target price on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a report on Thursday, February 27th. Scotiabank began coverage on shares of Magnite in a report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Magnite in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.27.

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.