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 disclosure with the Securities & Exchange Commission. The firm owned 560,786 shares of the company’s stock after selling 22,000 shares during the period. King Luther Capital Management Corp’s holdings in Magnite were worth $13,526,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MGNI. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 1,184 shares during the last quarter. CWM LLC grew its holdings in Magnite by 133.6% in 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. MCF Advisors LLC increased its position in Magnite by 2,100.0% during the 1st 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. Nisa Investment Advisors LLC lifted its holdings in shares of Magnite by 66.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,780 shares of the company’s stock worth $67,000 after buying an additional 1,105 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Magnite by 74.9% in the first 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 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 research reports. Wells Fargo & Company lowered their price target on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday. Susquehanna increased their target price on shares of Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Magnite from a “buy” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC boosted their price target on Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.20.

Insiders Place Their Bets

In other Magnite news, insider Sean Patrick Buckley sold 20,000 shares of Magnite stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $25.56, for a total value of $511,200.00. Following the transaction, the insider owned 307,193 shares in the company, valued at $7,851,853.08. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Buonasera sold 2,950 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.37, for a total transaction of $74,841.50. Following the completion of the transaction, the chief technology officer directly owned 238,629 shares of the company’s stock, valued at $6,054,017.73. This trade represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 323,275 shares of company stock valued at $7,866,326 over the last ninety days. 3.80% of the stock is owned by insiders.

Magnite Stock Performance

Shares of NASDAQ:MGNI opened at $15.10 on Monday. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $26.65. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 52.07, a price-to-earnings-growth 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. The company’s 50 day simple moving average is $20.85 and its 200 day simple moving average is $20.14.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The firm had revenue of $179.49 million during the quarter, compared to analysts’ expectations of $163.29 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly 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, research analysts predict that Magnite, Inc. will post 0.33 EPS for the current fiscal 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.