Magnite, Inc. (NASDAQ:MGNI) Shares Acquired by Atlas Merchant Capital LLC

Atlas Merchant Capital LLC boosted its holdings in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 65.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,500 shares of the company's stock after purchasing an additional 32,500 shares during the quarter. Magnite makes up 1.2% of Atlas Merchant Capital LLC's holdings, making the stock its 8th largest position. Atlas Merchant Capital LLC owned about 0.06% of Magnite worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGNI. Stifel Financial Corp raised its position in shares of Magnite by 85.8% during the 3rd quarter. Stifel Financial Corp now owns 46,502 shares of the company's stock worth $644,000 after purchasing an additional 21,472 shares during the last quarter. Barclays PLC raised its holdings in shares of Magnite by 352.9% during the third quarter. Barclays PLC now owns 210,598 shares of the company's stock valued at $2,917,000 after acquiring an additional 164,093 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Magnite by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company's stock valued at $41,118,000 after acquiring an additional 63,545 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Magnite by 22.2% in the third quarter. Tidal Investments LLC now owns 130,580 shares of the company's stock valued at $1,809,000 after acquiring an additional 23,688 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Magnite by 99.7% in the third quarter. Franklin Resources Inc. now owns 144,563 shares of the company's stock worth $2,002,000 after acquiring an additional 72,169 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGNI. Wolfe Research raised 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. Susquehanna raised their price target 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. Wells Fargo & Company increased 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. Needham & Company LLC reissued a "buy" rating and issued a $14.00 target price on shares of Magnite in a research note on Monday, April 21st. Finally, Benchmark restated a "buy" rating and issued a $25.00 price target on shares of Magnite in a research report on Monday, April 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Magnite has an average rating of "Moderate Buy" and a consensus target price of $19.17.

Insiders Place Their Bets

In related news, CAO Brian Gephart sold 6,250 shares of Magnite stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $16.00, for a total value of $100,000.00. Following the completion of the transaction, the chief accounting officer now owns 132,909 shares in the company, valued at $2,126,544. The trade was a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Lee Soroca sold 15,499 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total transaction of $244,109.25. Following the transaction, the insider now owns 458,386 shares of the company's stock, valued at $7,219,579.50. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 244,905 shares of company stock worth $4,718,855 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Magnite Trading Up 1.3 %

Magnite stock traded up $0.16 during trading on Friday, hitting $12.38. The company had a trading volume of 1,558,636 shares, compared to its average volume of 2,140,426. 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 company's 50 day simple moving average is $12.68 and its 200-day simple moving average is $14.79. Magnite, Inc. has a 1-year low of $8.22 and a 1-year high of $21.29. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 206.33, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $180.20 million during the quarter, compared to analysts' expectations of $183.90 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. As a group, analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

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.