Magnite, Inc. (NASDAQ:MGNI) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,030,011 shares of the company's stock after acquiring an additional 450,341 shares during the period. Wellington Management Group LLP owned approximately 4.92% of Magnite worth $111,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MGNI. SBI Securities Co. Ltd. purchased a new position in shares of Magnite during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in Magnite by 179.2% in the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock worth $58,000 after buying an additional 2,341 shares in the last quarter. Quarry LP increased its position in Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company's stock worth $76,000 after buying an additional 4,508 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Magnite in the fourth quarter worth about $87,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Magnite by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company's stock valued at $93,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 73.40% of the company's stock.

Insider Buying and Selling

In related news, CAO Brian Gephart sold 6,250 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.00, for a total value of $100,000.00. Following the completion of the sale, the chief accounting officer now directly owns 132,909 shares of the company's stock, valued at $2,126,544. This represents a 4.49 % decrease in their ownership of the stock. 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 Magnite stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.75, for a total transaction of $244,109.25. Following the transaction, the insider now directly owns 458,386 shares in the company, valued at approximately $7,219,579.50. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 244,905 shares of company stock valued at $4,718,855 in the last 90 days. Company insiders own 4.30% of the company's stock.

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Magnite Trading Up 4.7 %

Shares of NASDAQ:MGNI traded up $0.43 during trading on Tuesday, reaching $9.58. The company's stock had a trading volume of 907,753 shares, compared to its average volume of 2,026,480. The stock has a market capitalization of $1.37 billion, a PE ratio of 158.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69. The firm's 50 day simple moving average is $15.34 and its two-hundred day simple moving average is $15.07. Magnite, Inc. has a 12 month low of $8.22 and a 12 month high of $21.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

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

Analyst Ratings Changes

A number of equities research analysts have commented on MGNI shares. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Benchmark restated a "buy" rating and set a $25.00 target price on shares of Magnite in a research note on Monday, March 10th. Susquehanna upped their target price on shares of Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a report on Thursday, February 27th. Royal Bank of Canada raised their price target on Magnite from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.27.

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.