198,276 Shares in Magnite, Inc. (NASDAQ:MGNI) Purchased by EAM Investors LLC

EAM Investors LLC bought a new stake in Magnite, Inc. (NASDAQ:MGNI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 198,276 shares of the company's stock, valued at approximately $3,157,000. EAM Investors LLC owned about 0.14% of Magnite as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Magnite in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC lifted 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 last quarter. Quantbot Technologies LP acquired a new stake in Magnite in the fourth quarter valued at approximately $87,000. Jones Financial Companies Lllp boosted its position in Magnite by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company's stock valued at $93,000 after buying an additional 1,000 shares in the last quarter. Finally, KBC Group NV increased 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. Institutional investors and hedge funds own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MGNI. Royal Bank of Canada raised their price objective on Magnite from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Benchmark reissued a "buy" rating and set a $25.00 price target on shares of Magnite in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Magnite from $13.00 to $15.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Wolfe Research upped their price target on shares of Magnite from $14.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Susquehanna boosted their price objective on shares of Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Magnite currently has a consensus rating of "Moderate Buy" and an average price target of $19.17.

Magnite Trading Up 2.7 %

Shares of Magnite stock traded up $0.30 on Tuesday, reaching $11.31. 627,529 shares of the company's stock were exchanged, compared to its average volume of 2,113,231. The firm's 50-day moving average is $13.30 and its two-hundred day moving average is $14.83. The company has a market capitalization of $1.62 billion, a P/E ratio of 188.50, 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 quick ratio of 1.11 and a current ratio of 1.11. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $21.29.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 EPS 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 return on equity of 4.64% and a net margin of 2.62%. Sell-side analysts predict that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sean Patrick Buckley sold 18,693 shares of Magnite stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the transaction, the insider now directly owns 408,529 shares in the company, valued at $8,170,580. This trade represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Day sold 39,000 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $780,000.00. Following the completion of the sale, the chief financial officer now owns 488,506 shares in the company, valued at $9,770,120. This represents a 7.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 244,905 shares of company stock worth $4,718,855. Corporate insiders own 4.30% of the company's stock.

Magnite 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.