Magnite’s (MGNI) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Magnite (NASDAQ:MGNI) in a research note released on Thursday,Benzinga reports. Rosenblatt Securities currently has a $39.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a research note on Wednesday, October 8th. Susquehanna boosted their price objective on Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Magnite from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Scotiabank reiterated an “outperform” rating and set a $30.00 price objective (up from $22.00) on shares of Magnite in a research report on Thursday, August 7th. Finally, Needham & Company LLC lifted their price target on Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

Magnite Trading Up 1.6%

Shares of MGNI stock opened at $15.10 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $20.08. Magnite has a fifty-two week low of $8.22 and a fifty-two week high of $26.65. The stock has a market capitalization of $2.15 billion, a P/E ratio of 52.07, a P/E/G ratio of 1.42 and a beta of 3.13.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The company had revenue of $179.49 million for the quarter, compared to analysts’ expectations of $163.29 million. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts expect that Magnite will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Magnite

In related news, insider Adam Lee Soroca sold 24,986 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $24.69, for a total transaction of $616,904.34. Following the completion of the transaction, the insider directly owned 346,393 shares in the company, valued at $8,552,443.17. This represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael G. Barrett sold 35,951 shares of Magnite stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $23.85, for a total value of $857,431.35. Following the sale, the chief executive officer directly owned 249,857 shares in the company, valued at $5,959,089.45. The trade was a 12.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 328,275 shares of company stock valued at $7,977,776. Insiders own 3.80% of the company’s stock.

Institutional Trading of Magnite

Several hedge funds have recently modified their holdings of MGNI. GAMMA Investing LLC increased its position in Magnite by 355.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after acquiring an additional 1,184 shares in the last quarter. State of Wyoming acquired a new position in Magnite during the third quarter valued at approximately $39,000. CWM LLC increased its position in shares of 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 buying an additional 1,015 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Magnite during the third quarter worth about $40,000. Finally, MCF Advisors LLC boosted its holdings in shares of Magnite by 2,100.0% in the first quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock valued at $25,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds 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.