Lisanti Capital Growth LLC Has $2.68 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Lisanti Capital Growth LLC raised its stake in Magnite, Inc. (NASDAQ:MGNI - Free Report) by 14.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 168,045 shares of the company's stock after purchasing an additional 21,595 shares during the period. Lisanti Capital Growth LLC owned 0.12% of Magnite worth $2,675,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its holdings in Magnite by 2.9% in the third quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company's stock valued at $18,569,000 after buying an additional 37,601 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Magnite in the 4th quarter valued at approximately $586,000. Rice Hall James & Associates LLC acquired a new stake in shares of Magnite during the 4th quarter valued at approximately $3,000,000. Jennison Associates LLC acquired a new stake in shares of Magnite during the 4th quarter valued at approximately $818,000. Finally, Penbrook Management LLC lifted its stake in Magnite by 60.8% during the fourth quarter. Penbrook Management LLC now owns 38,480 shares of the company's stock worth $613,000 after purchasing an additional 14,550 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company's stock.

Insider Activity

In other Magnite news, insider Adam Lee Soroca sold 15,499 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the sale, the insider now directly owns 458,386 shares of the company's stock, valued at approximately $7,219,579.50. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David Buonasera sold 1,969 shares of Magnite stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $16.31, for a total transaction of $32,114.39. Following the completion of the transaction, the chief technology officer now directly owns 223,795 shares in the company, valued at $3,650,096.45. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,863 shares of company stock worth $5,169,262. 4.30% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and set a $25.00 target price on shares of Magnite in a research note on Monday. Susquehanna boosted their price objective on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research report on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of Magnite from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. 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. Finally, Scotiabank began coverage on Magnite in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.27.

Magnite Stock Performance

Shares of MGNI traded up $0.12 during trading hours on Tuesday, reaching $12.42. 2,420,690 shares of the company's stock traded hands, compared to its average volume of 2,588,602. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29. The business's fifty day simple moving average is $16.99 and its two-hundred day simple moving average is $15.27. 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 firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 207.00, a P/E/G ratio of 1.00 and a beta of 2.79.

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 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 analyst estimates of $183.90 million. Analysts predict that Magnite, Inc. will post 0.33 earnings per share for the current 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.