Magnite (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 19,233 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 19,233 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $19.00, for a total value of $365,427.00. Following the transaction, the insider directly owned 373,514 shares of the company’s stock, valued at approximately $7,096,766. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Magnite Stock Down 1.9%

Shares of MGNI opened at $17.89 on Friday. The stock’s 50-day moving average price is $13.97 and its two-hundred day moving average price is $13.96. Magnite, Inc. has a 12 month low of $10.82 and a 12 month high of $26.65. The company has a market capitalization of $2.56 billion, a PE ratio of 17.20, a PEG ratio of 0.86 and a beta of 2.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Magnite had a return on equity of 8.40% and a net margin of 21.96%.The company had revenue of $164.37 million during the quarter, compared to analysts’ expectations of $159.24 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Magnite, Inc. will post 0.6 EPS for the current year.

Trending Headlines about Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite announced a partnership with Viasat Aviation to bring programmatic ads to in-flight Wi‑Fi and entertainment screens, which could expand its connected advertising reach and open a new revenue stream. Magnite and Viasat Aviation Partner to Bring Programmatic Advertising to In-Flight Screens
• Positive Sentiment: Unusually high call-option activity suggests traders are betting on further upside in MGNI, reinforcing the recent bullish momentum. Investors Purchase High Volume of Magnite Call Options (NASDAQ:MGNI)
• Positive Sentiment: Recent coverage says MGNI has been on a multi-week winning streak, showing that momentum buyers remain active even as insiders sell shares. MGNI stock eyes fifth week of gains: Magnite executives file plans to sell shares, but retail is unfazed
• Neutral Sentiment: Magnite’s recent strong trading has been accompanied by analyst caution that earnings estimate revisions may limit near-term upside. Magnite (MGNI) Moves 10.8% Higher: Will This Strength Last?
• Negative Sentiment: CEO Michael Barrett, CTO David Buonasera, and Director Douglas Knopper all disclosed sizable share sales, which can pressure sentiment even if the transactions were preplanned.

Institutional Investors Weigh In On Magnite

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Magnite by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,802,630 shares of the company’s stock valued at $240,247,000 after buying an additional 148,198 shares during the period. Capital Research Global Investors grew its position in shares of Magnite by 85.0% during the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock worth $209,696,000 after buying an additional 5,937,428 shares during the period. Wellington Management Group LLP increased its stake in shares of Magnite by 67.7% in the 4th quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company’s stock valued at $140,053,000 after acquiring an additional 3,484,689 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Magnite by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock valued at $47,322,000 after acquiring an additional 367,854 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its position in shares of Magnite by 6.3% during the 3rd quarter. Granahan Investment Management LLC now owns 3,873,179 shares of the company’s stock valued at $84,358,000 after acquiring an additional 230,393 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MGNI. Weiss Ratings upgraded shares of Magnite from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Magnite in a research note on Thursday, May 28th. BTIG Research assumed coverage on shares of Magnite in a research report on Tuesday, June 9th. They set a “buy” rating and a $20.00 price objective for the company. Scotiabank lifted their target price on shares of Magnite from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $39.00 target price on shares of Magnite in a report on Thursday, February 26th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.89.

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).