Lisanti Capital Growth LLC Has $8.88 Million Stock Holdings in Magnite, Inc. $MGNI

Lisanti Capital Growth LLC increased its position in Magnite, Inc. (NASDAQ:MGNI) by 155.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,015 shares of the company’s stock after purchasing an additional 224,160 shares during the period. Magnite makes up approximately 2.5% of Lisanti Capital Growth LLC’s holdings, making the stock its 2nd biggest position. Lisanti Capital Growth LLC’s holdings in Magnite were worth $8,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MGNI. Teacher Retirement System of Texas bought a new position in shares of Magnite in the first quarter worth approximately $233,000. Principal Financial Group Inc. lifted its holdings in Magnite by 1.2% in the first quarter. Principal Financial Group Inc. now owns 124,547 shares of the company’s stock valued at $1,421,000 after acquiring an additional 1,474 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Magnite by 16.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 220,544 shares of the company’s stock valued at $2,516,000 after purchasing an additional 31,604 shares during the last quarter. Brown Advisory Inc. purchased a new position in Magnite during the first quarter valued at $290,000. Finally, M&T Bank Corp boosted its position in shares of Magnite by 31.5% in the first quarter. M&T Bank Corp now owns 18,960 shares of the company’s stock worth $216,000 after purchasing an additional 4,537 shares during the period. 73.40% of the stock is currently owned by institutional investors.

Magnite Trading Up 1.6%

MGNI opened at $15.10 on Friday. 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 firm has a market cap 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. The business has a fifty day simple moving average of $20.85 and a 200-day simple moving average of $20.08. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $26.65.

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

Insiders Place Their Bets

In other news, Director Diane Yu sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $25.23, for a total transaction of $504,600.00. Following the completion of the transaction, the director directly owned 67,481 shares of the company’s stock, valued at approximately $1,702,545.63. This represents a 22.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katie Seitz Evans sold 21,509 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $25.52, for a total transaction of $548,909.68. Following the completion of the sale, the insider directly owned 394,089 shares of the company’s stock, valued at approximately $10,057,151.28. This trade represents a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 328,275 shares of company stock worth $7,977,776. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MGNI. Rosenblatt Securities reiterated a “buy” rating and set a $39.00 target price on shares of Magnite in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Susquehanna upped their price objective on shares of Magnite from $22.00 to $28.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Scotiabank reissued an “outperform” rating and issued a $30.00 price target (up previously from $22.00) on shares of Magnite in a research note on Thursday, August 7th. Finally, Needham & Company LLC upped their price objective on shares of 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 issued a Hold rating to the company’s stock. According to MarketBeat, Magnite has an average rating of “Moderate Buy” and a consensus target price of $26.20.

About Magnite

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.