King Luther Capital Management Corp Has $13.53 Million Holdings in Magnite, Inc. $MGNI

King Luther Capital Management Corp lessened its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,786 shares of the company’s stock after selling 22,000 shares during the period. King Luther Capital Management Corp owned about 0.40% of Magnite worth $13,526,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MGNI. MCF Advisors LLC boosted its position in shares of Magnite by 2,100.0% during the first quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock worth $25,000 after buying an additional 2,100 shares during the period. Smartleaf Asset Management LLC lifted its stake in Magnite by 74.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock valued at $33,000 after acquiring an additional 1,203 shares in the last quarter. GAMMA Investing LLC boosted its position in Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock worth $37,000 after acquiring an additional 1,184 shares during the last quarter. AllSquare Wealth Management LLC boosted its position in Magnite by 76.8% during the 1st quarter. AllSquare Wealth Management LLC now owns 3,580 shares of the company’s stock worth $41,000 after acquiring an additional 1,555 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Magnite by 133.6% during the 2nd quarter. CWM LLC now owns 1,775 shares of the company’s stock worth $43,000 after acquiring an additional 1,015 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGNI has been the topic of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Magnite in a research report on Thursday. Wall Street Zen cut shares of Magnite from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark increased their price objective on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Scotiabank restated an “outperform” rating and issued a $30.00 price objective (up previously from $22.00) on shares of Magnite in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Insider Transactions at Magnite

In related news, insider Sean Patrick Buckley sold 20,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $25.56, for a total value of $511,200.00. Following the sale, the insider owned 307,193 shares in the company, valued at approximately $7,851,853.08. This represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aaron Saltz sold 8,522 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $24.50, for a total value of $208,789.00. Following the sale, the insider directly owned 215,079 shares of the company’s stock, valued at $5,269,435.50. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 323,275 shares of company stock valued at $7,866,326. Company insiders own 3.80% of the company’s stock.

Magnite Stock Performance

Shares of MGNI stock opened at $15.10 on Monday. The company has a fifty day moving average price of $20.85 and a two-hundred day moving average price of $20.14. Magnite, Inc. has a one year low of $8.22 and a one year high of $26.65. The stock has a market cap of $2.17 billion, a P/E ratio of 52.07, a P/E/G ratio of 1.42 and a beta of 3.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 period in the prior year, the firm earned $0.17 EPS. Magnite’s quarterly 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. As a group, equities analysts predict that Magnite, Inc. will post 0.33 EPS for the current year.

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.