Magnite (NASDAQ:MGNI) Stock Rating Lowered by Wall Street Zen

Magnite (NASDAQ:MGNI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also weighed in on MGNI. Susquehanna upped their target price on Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Needham & Company LLC raised their price objective on shares of Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wells Fargo & Company reduced their price objective on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday. Benchmark boosted their target price on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $22.00) on shares of Magnite in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Magnite Trading Up 1.6%

MGNI opened at $15.10 on Friday. The company has a fifty day moving average price of $20.85 and a two-hundred day moving average price of $20.02. Magnite has a 1-year low of $8.22 and a 1-year high of $26.65. The company has a market cap of $2.15 billion, a P/E ratio of 52.07, a price-to-earnings-growth ratio of 1.42 and a beta of 3.13. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $179.49 million during the quarter, compared to analyst estimates of $163.29 million. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts predict that Magnite will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian Gephart sold 27,671 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $24.71, for a total transaction of $683,750.41. Following the completion of the sale, the chief accounting officer directly owned 92,898 shares of the company’s stock, valued at approximately $2,295,509.58. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Lee Soroca sold 24,986 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.69, for a total value of $616,904.34. Following the completion of the transaction, the insider directly owned 346,393 shares in the company, valued at approximately $8,552,443.17. This represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 328,275 shares of company stock valued at $7,977,776 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Magnite

A number of large investors have recently added to or reduced their stakes in MGNI. Vanguard Group Inc. boosted its stake in Magnite by 8.1% in the third quarter. Vanguard Group Inc. now owns 14,654,432 shares of the company’s stock valued at $319,174,000 after acquiring an additional 1,092,147 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Magnite by 28.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,209,413 shares of the company’s stock worth $26,341,000 after purchasing an additional 271,325 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Magnite in the third quarter valued at approximately $2,057,000. PNC Financial Services Group Inc. grew its holdings in Magnite by 45.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock valued at $53,000 after purchasing an additional 755 shares during the period. Finally, Homestead Advisers Corp purchased a new stake in Magnite in the third quarter worth $956,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Magnite Company 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.