Barclays PLC Acquires 29,777 Shares of Magnite, Inc. (NASDAQ:MGNI)

Barclays PLC increased its holdings in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,375 shares of the company's stock after buying an additional 29,777 shares during the period. Barclays PLC owned 0.17% of Magnite worth $3,826,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MGNI. SBI Securities Co. Ltd. bought a new stake in shares of Magnite during the 4th quarter valued at $25,000. Larson Financial Group LLC increased its holdings in Magnite by 179.2% in the fourth 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 position in Magnite in the fourth quarter valued at about $87,000. Jones Financial Companies Lllp boosted its holdings in 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 last quarter. Finally, KBC Group NV grew its position in shares of Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company's stock worth $95,000 after buying an additional 2,374 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Magnite

In other news, insider Sean Patrick Buckley sold 18,693 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $373,860.00. Following the sale, the insider now owns 408,529 shares in the company, valued at $8,170,580. This represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Adam Lee Soroca sold 15,499 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.75, for a total transaction of $244,109.25. Following the completion of the transaction, the insider now directly owns 458,386 shares of the company's stock, valued at $7,219,579.50. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 244,905 shares of company stock worth $4,718,855 in the last three months. Insiders own 4.30% of the company's stock.

Magnite Trading Up 1.3 %

NASDAQ MGNI opened at $12.38 on Monday. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $21.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. The stock's 50 day moving average price is $12.68 and its two-hundred day moving average price is $14.83. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 206.33, a PEG ratio of 1.00 and a beta of 2.69.

Magnite (NASDAQ:MGNI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.14). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $180.20 million during the quarter, compared to the consensus estimate of $183.90 million. As a group, analysts anticipate that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $25.00 price target on shares of Magnite in a research report on Monday, April 21st. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Magnite in a report on Monday, April 21st. Susquehanna boosted their price target on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a report on Thursday, February 27th. Wells Fargo & Company raised their price objective on Magnite from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Finally, Wolfe Research boosted their target price on Magnite from $14.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.17.

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.

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