952,317 Shares in Magnite, Inc. (NASDAQ:MGNI) Purchased by Maestria Partners LLC

Maestria Partners LLC bought a new position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 952,317 shares of the company's stock, valued at approximately $15,161,000. Magnite accounts for about 6.0% of Maestria Partners LLC's investment portfolio, making the stock its 9th largest holding. Maestria Partners LLC owned approximately 0.68% of Magnite at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Boston Partners raised its position in Magnite by 39.1% in the fourth quarter. Boston Partners now owns 4,756,323 shares of the company's stock valued at $76,061,000 after purchasing an additional 1,336,458 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Magnite during the 4th quarter worth about $187,000. Royce & Associates LP raised its holdings in Magnite by 7.4% in the 4th quarter. Royce & Associates LP now owns 1,597,896 shares of the company's stock valued at $25,439,000 after buying an additional 109,595 shares during the period. First Eagle Investment Management LLC purchased a new stake in Magnite in the 4th quarter valued at about $5,845,000. Finally, Commonwealth Equity Services LLC lifted its position in Magnite by 25.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 161,987 shares of the company's stock valued at $2,579,000 after buying an additional 33,114 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGNI has been the topic of a number of research analyst reports. Wells Fargo & Company boosted 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. Royal Bank of Canada boosted 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. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Magnite in a research report on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. Finally, Scotiabank started coverage on Magnite in a report on Thursday, December 5th. They set a "sector outperform" rating and a $22.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Magnite presently has an average rating of "Moderate Buy" and a consensus price target of $19.27.

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Insider Activity at Magnite

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

Magnite Stock Down 0.2 %

Shares of MGNI stock traded down $0.02 on Monday, reaching $13.28. 1,780,832 shares of the stock were exchanged, compared to its average volume of 1,938,189. The company has a market capitalization 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The business's 50 day moving average price is $16.32 and its 200 day moving average price is $15.22. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations 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 expect that Magnite, Inc. will post 0.33 earnings per share 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.