Baader Bank Aktiengesellschaft Trims Stock Position in Magnite, Inc. (NASDAQ:MGNI)

Baader Bank Aktiengesellschaft cut its holdings in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 60.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,000 shares of the company's stock after selling 30,100 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Magnite were worth $318,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in shares of Magnite by 2.9% in the third quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company's stock worth $18,569,000 after buying an additional 37,601 shares during the period. Merit Financial Group LLC purchased a new position in shares of Magnite in the fourth quarter worth $586,000. Principal Financial Group Inc. increased its stake in shares of Magnite by 552.2% in the third quarter. Principal Financial Group Inc. now owns 107,515 shares of the company's stock worth $1,489,000 after buying an additional 91,031 shares during the period. Intech Investment Management LLC purchased a new position in shares of Magnite in the third quarter worth $649,000. Finally, Barclays PLC increased its stake in shares of Magnite by 352.9% in the third quarter. Barclays PLC now owns 210,598 shares of the company's stock worth $2,917,000 after buying an additional 164,093 shares during the period. 73.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Magnite news, insider Aaron Saltz sold 5,112 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the transaction, the insider now owns 307,745 shares of the company's stock, valued at approximately $4,154,557.50. The trade was a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $226,865.00. Following the completion of the transaction, the chief financial officer now directly owns 374,014 shares of the company's stock, valued at approximately $6,358,238. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,097 shares of company stock worth $6,165,147 in the last quarter. Corporate insiders own 4.30% of the company's stock.

Magnite Stock Up 0.2 %

Shares of MGNI stock traded up $0.03 during mid-day trading on Monday, reaching $17.23. 1,332,115 shares of the company's stock traded hands, compared to its average volume of 1,672,744. Magnite, Inc. has a 12 month low of $8.38 and a 12 month high of $18.38. The company has a market cap of $2.42 billion, a P/E ratio of 286.93, a P/E/G ratio of 0.90 and a beta of 2.51. 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 company's 50-day moving average price is $16.54 and its 200-day moving average price is $14.55.

Magnite (NASDAQ:MGNI - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.09). The firm had revenue of $162.00 million during the quarter, compared to the consensus estimate of $147.94 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, equities analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGNI. Royal Bank of Canada lifted their target price on shares of Magnite from $19.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Magnite in a research note on Friday, January 17th. Wolfe Research lifted their price target on shares of Magnite from $14.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Scotiabank started coverage on shares of Magnite in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $22.00 price target on the stock. Finally, Macquarie reiterated an "outperform" rating and issued a $18.00 price target on shares of Magnite in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.35.

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.