Maestria Partners LLC Has $24.86 Million Position in Magnite, Inc. $MGNI

Maestria Partners LLC reduced its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 20.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,141,171 shares of the company’s stock after selling 293,146 shares during the period. Magnite comprises 7.9% of Maestria Partners LLC’s investment portfolio, making the stock its 5th largest position. Maestria Partners LLC’s holdings in Magnite were worth $24,855,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,184 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Magnite during the third quarter valued at approximately $40,000. CWM LLC raised its holdings in shares of Magnite by 133.6% during the second quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after acquiring an additional 1,015 shares in the last quarter. Westfuller Advisors LLC purchased a new stake in Magnite in the third quarter worth $56,000. Finally, MTM Investment Management LLC purchased a new stake in Magnite in the second quarter worth $58,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MGNI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a research report on Thursday. Wall Street Zen lowered shares of Magnite from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company decreased their price target on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Benchmark restated a “buy” rating on shares of Magnite in a report on Monday, January 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $39.00 target price on shares of Magnite in a report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Magnite currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Insider Transactions at Magnite

In other Magnite news, insider Sean Patrick Buckley sold 4,426 shares of Magnite stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $13.36, for a total transaction of $59,131.36. Following the completion of the transaction, the insider owned 271,125 shares in the company, valued at approximately $3,622,230. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert F. Spillane sold 12,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $14.22, for a total value of $177,750.00. Following the completion of the sale, the director directly owned 53,917 shares in the company, valued at approximately $766,699.74. This represents a 18.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 44,439 shares of company stock valued at $663,671 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Magnite Stock Up 2.2%

NASDAQ:MGNI opened at $15.41 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50-day moving average price is $15.44 and its 200-day moving average price is $19.41. The company has a market capitalization of $2.21 billion, a PE ratio of 40.55, a P/E/G ratio of 0.84 and a beta of 2.35. Magnite, Inc. has a 1-year low of $8.22 and a 1-year high of $26.65.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. Magnite had a net margin of 8.25% and a return on equity of 8.74%. Magnite’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts predict that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

About Magnite

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).