MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 2,714 Shares of Magnite, Inc. (NASDAQ:MGNI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,580 shares of the company’s stock after acquiring an additional 2,714 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Magnite worth $1,140,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MGNI. Graham Capital Management L.P. lifted its holdings in Magnite by 533.7% in the fourth quarter. Graham Capital Management L.P. now owns 79,759 shares of the company’s stock valued at $1,270,000 after acquiring an additional 67,172 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Magnite by 122.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 45,187 shares of the company’s stock valued at $719,000 after purchasing an additional 24,917 shares during the last quarter. Bosun Asset Management LLC purchased a new stake in shares of Magnite during the 4th quarter valued at about $507,000. Bridgefront Capital LLC bought a new position in shares of Magnite in the 4th quarter worth approximately $192,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Magnite in the fourth quarter worth approximately $260,000. 73.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MGNI shares. Royal Bank of Canada reduced their target price on shares of Magnite from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Needham & Company LLC upped their price objective on Magnite from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Craig Hallum set a $24.00 target price on Magnite and gave the company a “buy” rating in a research report on Tuesday, May 20th. Susquehanna boosted their price target on Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a report on Thursday, February 27th. Finally, Benchmark reduced their price target on Magnite from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Magnite has a consensus rating of “Moderate Buy” and a consensus price target of $19.23.

Insider Buying and Selling

In other Magnite news, insider Adam Lee Soroca sold 11,366 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.73, for a total value of $178,787.18. Following the sale, the insider now owns 437,117 shares in the company, valued at $6,875,850.41. The trade was a 2.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Patrick Buckley sold 9,692 shares of Magnite stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.73, for a total value of $152,455.16. Following the completion of the sale, the insider now directly owns 347,394 shares in the company, valued at $5,464,507.62. This trade represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,469 shares of company stock worth $919,285. 3.80% of the stock is owned by insiders.

Magnite Stock Performance

NASDAQ:MGNI opened at $15.36 on Monday. The stock has a 50-day moving average price of $12.43 and a 200 day moving average price of $15.08. The stock has a market capitalization of $2.17 billion, a P/E ratio of 256.00, a P/E/G ratio of 1.00 and a beta of 2.73. 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) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $145.85 million during the quarter, compared to analyst estimates of $142.18 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. Equities research analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal 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.