Amundi Has $246,000 Holdings in Magnite, Inc. (NASDAQ:MGNI)

Amundi cut its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,940 shares of the company’s stock after selling 2,155 shares during the quarter. Amundi’s holdings in Magnite were worth $246,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Magnite during the fourth quarter worth $25,000. Larson Financial Group LLC increased its position in shares of Magnite by 179.2% during the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock worth $58,000 after buying an additional 2,341 shares during the period. Quarry LP increased its position in shares of Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares during the period. Jones Financial Companies Lllp increased its position in shares of Magnite by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after buying an additional 1,000 shares during the period. Finally, KBC Group NV grew its holdings in 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 purchasing an additional 2,374 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGNI has been the subject of a number of research reports. Scotiabank initiated coverage on shares of Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target for the company. Susquehanna raised their price target on shares of Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Magnite in a report on Monday, March 10th. Finally, Wells Fargo & Company raised their price target on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Magnite Stock Down 0.8 %

Magnite stock opened at $13.30 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 firm’s fifty day moving average price is $16.36 and its two-hundred day moving average price is $15.19. 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 $1.90 billion, a price-to-earnings ratio of 221.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.79.

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

Insider Activity at Magnite

In other Magnite news, Director James Rossman sold 149,936 shares of Magnite stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $19.46, for a total value of $2,917,754.56. Following the sale, the director now owns 219,920 shares of the company’s stock, valued at approximately $4,279,643.20. The trade was a 40.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Gephart sold 6,250 shares of Magnite stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $16.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief accounting officer now directly owns 132,909 shares in the company, 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 258,250 shares of company stock valued at $4,945,720 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

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.