AYAL Capital Advisors Ltd Takes $4 Million Position in Magnite, Inc. $MGNI

AYAL Capital Advisors Ltd purchased a new stake in Magnite, Inc. (NASDAQ:MGNI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 165,937 shares of the company’s stock, valued at approximately $4,002,000. AYAL Capital Advisors Ltd owned about 0.12% of Magnite as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in Magnite during the 1st quarter worth about $41,036,000. American Century Companies Inc. lifted its position in Magnite by 855.2% in the first quarter. American Century Companies Inc. now owns 2,961,009 shares of the company’s stock valued at $33,785,000 after acquiring an additional 2,651,033 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Magnite by 419.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,793,830 shares of the company’s stock valued at $43,267,000 after acquiring an additional 1,448,456 shares during the period. Boston Partners grew its holdings in shares of Magnite by 10.9% during the first quarter. Boston Partners now owns 5,276,356 shares of the company’s stock worth $60,187,000 after buying an additional 520,033 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Magnite by 42.0% in the second quarter. Stephens Investment Management Group LLC now owns 1,350,096 shares of the company’s stock valued at $32,564,000 after acquiring an additional 399,440 shares in the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Magnite Stock Performance

Shares of NASDAQ:MGNI opened at $16.30 on Friday. The business’s 50-day simple moving average is $16.38 and its 200 day simple moving average is $20.12. The company has a market cap of $2.34 billion, a P/E ratio of 42.90, a PEG ratio of 1.22 and a beta of 2.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.01. Magnite, Inc. has a one year low of $8.22 and a one year high of $26.65.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. Magnite had a return on equity of 8.74% and a net margin of 8.25%.The firm had revenue of $179.49 million during the quarter, compared to analysts’ expectations of $163.29 million. During the same quarter in the prior year, the business earned $0.17 EPS. Magnite’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Magnite

In other news, insider Aaron Saltz sold 8,522 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $24.50, for a total transaction of $208,789.00. Following the completion of the sale, the insider directly owned 215,079 shares in the company, valued at $5,269,435.50. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the director directly owned 153,603 shares in the company, valued at approximately $3,072,060. The trade was a 3.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,985 shares of company stock worth $1,024,758. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Magnite from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnite in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their target price on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $39.00 price target on shares of Magnite in a research report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.20.

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.