Calamos Advisors LLC Lowers Stock Position in Magnite, Inc. $MGNI

Calamos Advisors LLC cut its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,710 shares of the company’s stock after selling 12,565 shares during the quarter. Calamos Advisors LLC’s holdings in Magnite were worth $1,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC lifted its holdings in Magnite by 4.5% during the second quarter. Winthrop Advisory Group LLC now owns 14,000 shares of the company’s stock valued at $338,000 after purchasing an additional 600 shares in the last quarter. CWM LLC raised its position in shares of Magnite by 133.6% during the 2nd quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after purchasing an additional 1,015 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Magnite by 66.0% during the 2nd 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 in the last quarter. Teacher Retirement System of Texas boosted its holdings in Magnite by 5.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 21,603 shares of the company’s stock worth $521,000 after buying an additional 1,164 shares during the period. Finally, GAMMA Investing LLC boosted its holdings 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 buying an additional 1,184 shares during the period. Institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the topic of a number of recent analyst reports. Wall Street Zen cut Magnite from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada increased their price objective on shares of Magnite from $19.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Scotiabank reissued an “outperform” rating and issued a $30.00 target price (up previously from $22.00) on shares of Magnite in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Magnite Stock Down 0.6%

NASDAQ MGNI opened at $14.15 on Friday. The stock has a 50 day moving average price of $19.77 and a 200-day moving average price of $20.10. Magnite, Inc. has a one year low of $8.22 and a one year high of $26.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $2.03 billion, a P/E ratio of 48.79, a P/E/G ratio of 1.42 and a beta of 3.13.

Magnite (NASDAQ:MGNI) last released its quarterly 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 the consensus estimate of $163.29 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Magnite’s revenue was up 11.6% on a year-over-year basis. 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 fiscal year.

Insider Transactions at Magnite

In related news, Director Diane Yu sold 20,000 shares of Magnite stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $25.23, for a total value of $504,600.00. Following the completion of the transaction, the director owned 67,481 shares in the company, valued at approximately $1,702,545.63. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Gephart sold 27,671 shares of Magnite stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $24.71, for a total value of $683,750.41. Following the completion of the transaction, the chief accounting officer owned 92,898 shares of the company’s stock, valued at approximately $2,295,509.58. This represents a 22.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 294,415 shares of company stock worth $7,209,084 in the last quarter. Company insiders own 3.80% 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.