Magnite, Inc. (NASDAQ:MGNI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,931 shares of the company's stock after selling 41,546 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Magnite worth $1,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Magnite by 1.5% during the fourth quarter. Arizona State Retirement System now owns 36,846 shares of the company's stock worth $587,000 after buying an additional 559 shares during the period. Truist Financial Corp lifted its position in Magnite by 2.0% during the 4th quarter. Truist Financial Corp now owns 34,242 shares of the company's stock worth $545,000 after acquiring an additional 674 shares during the period. ANTIPODES PARTNERS Ltd lifted its position in Magnite by 13.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 8,072 shares of the company's stock worth $129,000 after acquiring an additional 956 shares during the period. Jones Financial Companies Lllp grew its stake in 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 purchasing an additional 1,000 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of Magnite by 4.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 25,377 shares of the company's stock valued at $404,000 after purchasing an additional 1,148 shares during the period. Hedge funds and other institutional investors own 73.40% of the company's stock.

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Insider Buying and Selling at Magnite

In other news, Director James Rossman sold 149,936 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $19.46, for a total value of $2,917,754.56. Following the completion of the sale, the director now directly owns 219,920 shares in the company, valued at $4,279,643.20. This represents a 40.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $20.35, for a total value of $101,750.00. Following the transaction, the director now owns 182,837 shares in the company, valued at approximately $3,720,732.95. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,250 shares of company stock worth $4,945,720. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

MGNI has been the topic of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of Magnite in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. 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 report on Friday, January 3rd. Susquehanna upped their price target on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company increased their price target on Magnite from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Magnite presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.27.

Magnite Price Performance

MGNI traded up $0.12 during midday trading on Wednesday, hitting $11.52. 1,179,188 shares of the company traded hands, compared to its average volume of 2,561,493. The business has a 50 day simple moving average of $15.91 and a two-hundred day simple moving average of $15.17. Magnite, Inc. has a 52-week low of $8.38 and a 52-week high of $21.29. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 192.00, 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.

Magnite (NASDAQ:MGNI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share 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 firm had revenue of $180.20 million during the quarter, compared to analysts' expectations of $183.90 million. On average, equities analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

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.