11,198 Shares in Magnite, Inc. (NASDAQ:MGNI) Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. purchased a new stake in Magnite, Inc. (NASDAQ:MGNI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,198 shares of the company’s stock, valued at approximately $178,000.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Magnite in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC boosted its stake in Magnite by 179.2% in the 4th quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock valued at $58,000 after purchasing an additional 2,341 shares during the period. Quarry LP grew its holdings in Magnite by 446.8% in the 3rd 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 Magnite by 20.6% during the 4th 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 lifted its holdings in shares of Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after buying an additional 2,374 shares in the last quarter. 73.40% of the stock is owned by institutional investors.

Magnite Price Performance

Shares of MGNI stock opened at $12.30 on Friday. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $16.15 and a 200 day simple moving average of $15.18. The company has a market cap of $1.76 billion, a P/E ratio of 205.00, a P/E/G ratio of 1.00 and a beta of 2.79.

Magnite (NASDAQ:MGNI) last posted 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). 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, sell-side analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Magnite

In other news, CFO David Day sold 13,345 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $17.00, for a total transaction of $226,865.00. Following the sale, the chief financial officer now directly owns 374,014 shares in the company, valued at approximately $6,358,238. The trade was a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Patrick Buckley sold 18,693 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.00, for a total value of $373,860.00. Following the completion of the transaction, the insider now directly owns 408,529 shares of the company’s stock, valued at $8,170,580. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,250 shares of company stock worth $4,945,720 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank began coverage on shares of Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Magnite in a research report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Magnite in a research report on Thursday, February 27th. Wolfe Research increased their price target on Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada raised their price objective on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average 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.