Calamos Advisors LLC Has $559,000 Stock Position in Magnite, Inc. (NASDAQ:MGNI)

Calamos Advisors LLC lowered its position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 81.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,143 shares of the company's stock after selling 155,837 shares during the period. Calamos Advisors LLC's holdings in Magnite were worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MGNI. Truist Financial Corp raised its holdings in Magnite by 42.9% in the 2nd quarter. Truist Financial Corp now owns 68,307 shares of the company's stock valued at $908,000 after acquiring an additional 20,517 shares in the last quarter. Fulton Bank N.A. increased its holdings in Magnite by 6.4% in the 3rd quarter. Fulton Bank N.A. now owns 28,311 shares of the company's stock valued at $392,000 after buying an additional 1,696 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Magnite by 29.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 123,138 shares of the company's stock valued at $1,705,000 after buying an additional 28,108 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Magnite by 87.0% during the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company's stock worth $105,000 after acquiring an additional 3,689 shares during the period. Finally, Vicus Capital acquired a new stake in shares of Magnite during the 3rd quarter worth approximately $164,000. 73.40% of the stock is currently owned by institutional investors.

Magnite Trading Up 10.6 %

Shares of MGNI stock traded up $2.03 during trading hours on Friday, hitting $21.17. 11,715,763 shares of the company's stock traded hands, compared to its average volume of 1,713,613. 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 12 month low of $8.38 and a 12 month high of $21.29. The stock has a market cap of $2.98 billion, a PE ratio of 352.83, a price-to-earnings-growth ratio of 1.05 and a beta of 2.52. The stock's 50 day simple moving average is $16.74 and its 200 day simple moving average is $14.68.

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

Insider Buying and Selling

In other news, CFO David Day sold 39,000 shares of Magnite stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.00, for a total value of $780,000.00. Following the completion of the transaction, the chief financial officer now directly owns 488,506 shares of the company's stock, valued at approximately $9,770,120. This trade represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam Lee Soroca sold 7,849 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.60, for a total value of $122,444.40. Following the sale, the insider now owns 421,347 shares in the company, valued at approximately $6,573,013.20. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,614 shares of company stock valued at $10,167,750 over the last ninety days. 4.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Macquarie restated an "outperform" rating and set a $18.00 price objective on shares of Magnite in a research report on Friday, November 8th. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of Magnite in a research report on Friday, January 17th. Royal Bank of Canada lifted their target price on Magnite from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Wolfe Research increased their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, 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 research note on Thursday, January 16th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.35.

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.