Magnite, Inc. $MGNI Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in Magnite, Inc. (NASDAQ:MGNI) by 92.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,787 shares of the company’s stock after selling 1,508,363 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Magnite were worth $2,106,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Magnite by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 14,654,432 shares of the company’s stock worth $319,174,000 after purchasing an additional 1,092,147 shares during the period. Granahan Investment Management LLC raised its holdings in shares of Magnite by 6.3% during the third quarter. Granahan Investment Management LLC now owns 3,873,179 shares of the company’s stock valued at $84,358,000 after acquiring an additional 230,393 shares during the last quarter. State Street Corp grew its position in shares of Magnite by 5.2% in the second quarter. State Street Corp now owns 3,053,607 shares of the company’s stock valued at $73,653,000 after purchasing an additional 150,547 shares in the last quarter. Blue Grotto Capital LLC grew its position in shares of Magnite by 443.8% in the third quarter. Blue Grotto Capital LLC now owns 1,548,796 shares of the company’s stock valued at $33,733,000 after purchasing an additional 1,263,992 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Magnite by 39.6% in the third quarter. Kennedy Capital Management LLC now owns 1,213,613 shares of the company’s stock valued at $26,432,000 after purchasing an additional 344,466 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insiders Place Their Bets

In other Magnite news, insider Adam Lee Soroca sold 21,529 shares of Magnite stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $12.00, for a total value of $258,348.00. Following the sale, the insider owned 388,425 shares of the company’s stock, valued at approximately $4,661,100. The trade was a 5.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Magnite Stock Up 7.1%

MGNI opened at $13.72 on Friday. The business’s 50-day simple moving average is $12.63 and its 200-day simple moving average is $14.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.02. Magnite, Inc. has a one year low of $10.82 and a one year high of $26.65. The stock has a market capitalization of $1.96 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.79 and a beta of 2.33.

Magnite (NASDAQ:MGNI) last posted its earnings results on Wednesday, February 25th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Magnite had a return on equity of 8.44% and a net margin of 20.25%.The firm had revenue of $205.36 million for the quarter, compared to analyst estimates of $193.87 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts anticipate that Magnite, Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MGNI. Rosenblatt Securities restated a “buy” rating and issued a $39.00 price target on shares of Magnite in a research report on Thursday, February 26th. Scotiabank lowered their price objective on Magnite from $30.00 to $16.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 26th. Benchmark lowered their price objective on Magnite from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Magnite in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company lowered their price target on Magnite from $20.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Magnite has an average rating of “Moderate Buy” and a consensus target price of $24.10.

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).