Moody National Bank Trust Division Raises Stock Holdings in Magnite, Inc. $MGNI

Moody National Bank Trust Division lifted its holdings in Magnite, Inc. (NASDAQ:MGNI) by 22.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 197,792 shares of the company’s stock after purchasing an additional 36,460 shares during the quarter. Moody National Bank Trust Division owned 0.14% of Magnite worth $4,308,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MGNI. GAMMA Investing LLC raised its stake in Magnite by 355.6% during the second quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,184 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 buying an additional 1,015 shares in the last quarter. MTM Investment Management LLC bought a new position in shares of Magnite in the 2nd quarter valued at about $58,000. Nisa Investment Advisors LLC lifted its holdings in shares of Magnite by 66.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,780 shares of the company’s stock valued at $67,000 after acquiring an additional 1,105 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Magnite by 74.9% in the first quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock worth $33,000 after acquiring an additional 1,203 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $39.00 target price on shares of Magnite in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Magnite from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Nine 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 a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Insider Activity at Magnite

In other news, insider Aaron Saltz sold 8,522 shares of Magnite stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $24.50, for a total transaction of $208,789.00. Following the completion of the sale, the insider owned 215,079 shares of the company’s stock, valued at approximately $5,269,435.50. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert F. Spillane sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $14.22, for a total value of $177,750.00. Following the completion of the sale, the director owned 53,917 shares of the company’s stock, valued at $766,699.74. The trade was a 18.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,805 shares of company stock worth $876,808 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Magnite Price Performance

MGNI opened at $16.54 on Wednesday. The business has a fifty day moving average of $16.26 and a 200 day moving average of $20.18. The stock has a market cap of $2.38 billion, a P/E ratio of 43.53, a PEG ratio of 1.20 and a beta of 2.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Magnite, Inc. has a 52-week low of $8.22 and a 52-week high of $26.65.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. Magnite had a return on equity of 8.74% and a net margin of 8.25%.The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, sell-side analysts anticipate 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.