625,765 Shares in Magnite, Inc. (NASDAQ:MGNI) Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in Magnite, Inc. (NASDAQ:MGNI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 625,765 shares of the company's stock, valued at approximately $9,962,000. CenterBook Partners LP owned approximately 0.44% of Magnite as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Magnite during the fourth quarter valued at about $25,000. Larson Financial Group LLC raised its position in shares of Magnite by 179.2% in the 4th quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock worth $58,000 after acquiring an additional 2,341 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Magnite during the fourth quarter valued at approximately $87,000. Jones Financial Companies Lllp grew its stake in Magnite by 20.6% in the fourth 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 during the period. Finally, KBC Group NV lifted its position in Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company's stock valued at $95,000 after buying an additional 2,374 shares during the period. 73.40% of the stock is currently owned by institutional investors.

Insider Transactions at Magnite

In other news, insider Sean Patrick Buckley sold 18,693 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the transaction, the insider now owns 408,529 shares in the company, valued at $8,170,580. This trade represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Rossman sold 149,936 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $19.46, for a total value of $2,917,754.56. Following the transaction, the director now directly owns 219,920 shares of the company's stock, valued at approximately $4,279,643.20. The trade was a 40.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 244,905 shares of company stock worth $4,718,855 in the last three months. Corporate insiders own 4.30% of the company's stock.

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Analyst Ratings Changes

MGNI has been the topic of a number of recent research reports. Wolfe Research upped their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Royal Bank of Canada lifted their target price on shares of Magnite from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on Magnite from $13.00 to $15.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Susquehanna boosted their target price on Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Magnite in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Magnite has an average rating of "Moderate Buy" and an average target price of $19.27.

Magnite Stock Performance

Magnite stock traded down $0.08 during mid-day trading on Monday, reaching $9.60. 739,574 shares of the stock traded hands, compared to its average volume of 2,059,092. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $21.29. The business's 50-day moving average is $14.43 and its 200-day moving average is $14.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $1.37 billion, a PE ratio of 160.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69.

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

About Magnite

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.