Boston Partners Purchases 1,336,458 Shares of Magnite, Inc. (NASDAQ:MGNI)

Boston Partners grew its position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 39.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,756,323 shares of the company's stock after buying an additional 1,336,458 shares during the period. Boston Partners owned 3.38% of Magnite worth $76,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Magnite in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in shares of 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 in the last quarter. Quarry LP raised its stake in shares of Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company's stock valued at $76,000 after purchasing an additional 4,508 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 1,000 shares in the last quarter. Finally, KBC Group NV boosted its stake in Magnite by 66.5% in the 4th quarter. KBC Group NV now owns 5,943 shares of the company's stock worth $95,000 after purchasing an additional 2,374 shares during the period. Institutional investors own 73.40% of the company's stock.

Magnite Price Performance

Shares of Magnite stock traded down $0.02 during trading on Monday, hitting $13.28. 1,780,832 shares of the stock traded hands, compared to its average volume of 1,938,189. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 221.33, a PEG ratio of 1.00 and a beta of 2.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $21.29. The firm's fifty day moving average is $16.36 and its 200-day moving average is $15.22.

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Magnite (NASDAQ:MGNI - Get Free Report) last issued 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 business had revenue of $180.20 million for the quarter, compared to the consensus estimate of $183.90 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. Research analysts expect that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Paul Caine sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the transaction, the director now directly owns 182,837 shares in the company, valued at $3,720,732.95. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Lee Soroca sold 15,499 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the sale, the insider now owns 458,386 shares of the company's stock, valued at $7,219,579.50. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,250 shares of company stock worth $4,945,720 in the last 90 days. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MGNI shares. Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Magnite in a report on Monday, March 10th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Magnite in a research note on Thursday, February 27th. Wells Fargo & Company raised their price target 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. Royal Bank of Canada upped their price target on shares of Magnite from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, Susquehanna lifted their price objective on Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and twelve have issued 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 $19.27.

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.