Insider Selling: Magnite (NASDAQ:MGNI) Insider Sells 10,857 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) insider Adam Lee Soroca sold 10,857 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $13.23, for a total value of $143,638.11. Following the completion of the transaction, the insider owned 326,114 shares in the company, valued at approximately $4,314,488.22. The trade was a 3.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Adam Lee Soroca also recently made the following trade(s):

• On Tuesday, September 2nd, Adam Lee Soroca sold 24,986 shares of Magnite stock. The stock was sold at an average price of $24.69, for a total transaction of $616,904.34.

Magnite Stock Performance

Magnite stock traded up $0.04 during mid-day trading on Tuesday, reaching $13.40. The company’s stock had a trading volume of 1,420,763 shares, compared to its average volume of 2,809,303. The company has a market capitalization of $1.92 billion, a P/E ratio of 46.21, a PEG ratio of 1.42 and a beta of 3.13. Magnite, Inc. has a 12-month low of $8.22 and a 12-month 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 firm’s fifty day moving average price is $19.31 and its two-hundred day moving average price is $20.23.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGNI. Susquehanna upped their price target on shares of Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a research note on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $39.00 price target on shares of Magnite in a research report on Thursday, November 6th. Needham & Company LLC boosted their price objective on shares of Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Benchmark boosted their target price on Magnite from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

Institutional Investors Weigh In On Magnite

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Magnite by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 13,743,521 shares of the company’s stock worth $156,814,000 after acquiring an additional 138,417 shares in the last quarter. Lisanti Capital Growth LLC raised its holdings in Magnite by 155.8% in the 2nd quarter. Lisanti Capital Growth LLC now owns 368,015 shares of the company’s stock worth $8,877,000 after purchasing an additional 224,160 shares during the period. Harbor Capital Advisors Inc. boosted its position in Magnite by 7.2% during the second quarter. Harbor Capital Advisors Inc. now owns 634,147 shares of the company’s stock worth $15,296,000 after purchasing an additional 42,834 shares in the last quarter. Maestria Partners LLC grew its holdings in Magnite by 36.3% in the second quarter. Maestria Partners LLC now owns 1,434,317 shares of the company’s stock valued at $34,596,000 after purchasing an additional 382,000 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of Magnite by 105.7% in the first quarter. HighTower Advisors LLC now owns 42,271 shares of the company’s stock valued at $482,000 after buying an additional 21,720 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.