Dilation Capital Management LP Has $5.36 Million Holdings in Magnite, Inc. $MGNI

Dilation Capital Management LP decreased its stake in Magnite, Inc. (NASDAQ:MGNI) by 26.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,900 shares of the company’s stock after selling 88,825 shares during the period. Magnite makes up 2.7% of Dilation Capital Management LP’s portfolio, making the stock its 17th largest holding. Dilation Capital Management LP owned approximately 0.17% of Magnite worth $5,356,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGNI. GAMMA Investing LLC grew its position in Magnite by 355.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock worth $37,000 after purchasing an additional 1,184 shares during the last quarter. USA Financial Formulas bought a new position in Magnite during the third quarter valued at about $40,000. CWM LLC raised its holdings in Magnite by 133.6% in the 2nd 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. MTM Investment Management LLC acquired a new position in Magnite in the 2nd quarter valued at approximately $58,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Magnite by 66.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,780 shares of the company’s stock valued at $67,000 after buying an additional 1,105 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MGNI. Rosenblatt Securities reissued a “buy” rating and set a $39.00 price objective on shares of Magnite in a research note on Thursday, November 6th. Wells Fargo & Company cut their target price on Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Wall Street Zen cut Magnite from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Finally, Benchmark restated a “buy” rating on shares of Magnite in a research note on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.00.

Magnite Stock Performance

MGNI opened at $14.29 on Thursday. 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 business has a fifty day simple moving average of $15.40 and a 200 day simple moving average of $19.53. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $26.65. The company has a market capitalization of $2.05 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 0.81 and a beta of 2.35.

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

Insider Buying and Selling at Magnite

In other news, insider Adam Lee Soroca sold 16,656 shares of Magnite stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $17.00, for a total value of $283,152.00. Following the completion of the sale, the insider directly owned 326,114 shares in the company, valued at approximately $5,543,938. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Caine sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the director owned 153,603 shares of the company’s stock, valued at approximately $3,072,060. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,439 shares of company stock worth $763,671 over the last quarter. Company insiders own 3.80% of the company’s stock.

Magnite Company Profile

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).