EFG Asset Management North America Corp. Has $3.15 Million Holdings in Magnite, Inc. (NASDAQ:MGNI)

EFG Asset Management North America Corp. lifted its position in Magnite, Inc. (NASDAQ:MGNI - Free Report) by 96.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 197,770 shares of the company's stock after buying an additional 96,895 shares during the period. EFG Asset Management North America Corp. owned approximately 0.14% of Magnite worth $3,149,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Magnite by 125.3% in the third quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company's stock worth $91,128,000 after acquiring an additional 3,659,759 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in shares of Magnite in the 3rd quarter worth approximately $23,917,000. Boston Partners raised its holdings in shares of Magnite by 39.1% in the 4th quarter. Boston Partners now owns 4,756,323 shares of the company's stock worth $76,061,000 after purchasing an additional 1,336,458 shares in the last quarter. Maestria Partners LLC bought a new stake in shares of Magnite in the 4th quarter worth approximately $15,161,000. Finally, Stephens Investment Management Group LLC lifted its stake in Magnite by 146.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company's stock valued at $15,867,000 after purchasing an additional 592,853 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company's stock.

Magnite Stock Down 5.7 %

MGNI traded down $0.70 on Friday, reaching $11.60. 3,299,817 shares of the company traded hands, compared to its average volume of 1,987,311. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 193.33, a PEG ratio of 1.00 and a beta of 2.79. 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's 50 day moving average price is $16.08 and its 200-day moving average price is $15.19. Magnite, Inc. has a 52-week low of $8.38 and a 52-week high of $21.29.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank started coverage on Magnite in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $22.00 price target on the stock. Susquehanna lifted 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. Wolfe Research upped their target price on Magnite from $14.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price target on shares of Magnite in a research report on Thursday, February 27th. Finally, Royal Bank of Canada boosted their price objective on Magnite from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.27.

Insider Transactions at Magnite

In other news, insider Sean Patrick Buckley sold 18,693 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00. Following the transaction, 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 can be accessed through this hyperlink. Also, Director James Rossman sold 149,936 shares of Magnite stock in a transaction on Friday, February 7th. The shares were sold at an average price of $19.46, for a total transaction of $2,917,754.56. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 258,250 shares of company stock valued at $4,945,720 in the last three months. Corporate insiders own 4.30% of the company's stock.

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.