Dana Investment Advisors Inc. Sells 15,839 Shares of Magnite, Inc. (NASDAQ:MGNI)

Dana Investment Advisors Inc. lessened its holdings in Magnite, Inc. (NASDAQ:MGNI) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 473,625 shares of the company’s stock after selling 15,839 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Magnite were worth $7,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Magnite in the fourth quarter worth approximately $25,000. Quarry LP raised its position in shares of Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Magnite by 20.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV lifted its stake in shares of Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Magnite by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 9,886 shares of the company’s stock valued at $157,000 after purchasing an additional 2,968 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MGNI. Susquehanna boosted their target price on shares of Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a report on Thursday, February 27th. Benchmark boosted their price objective on shares of Magnite from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Magnite in a research report on Thursday, February 27th. Wells Fargo & Company lifted their price target on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Macquarie reaffirmed an “outperform” rating and set a $18.00 price target on shares of Magnite in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Magnite currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Magnite Stock Down 1.1 %

Magnite stock opened at $14.49 on Thursday. The business’s 50-day simple moving average is $17.20 and its two-hundred day simple moving average is $15.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $2.07 billion, a PE ratio of 241.50, a PEG ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $21.29.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The firm had revenue of $180.20 million during the quarter, compared to analysts’ expectations of $183.90 million. Equities analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Insider Activity

In other news, CTO David Buonasera sold 1,969 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total transaction of $32,114.39. Following the sale, the chief technology officer now owns 223,795 shares of the company’s stock, valued at $3,650,096.45. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Rossman sold 149,936 shares of Magnite stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $19.46, for a total transaction of $2,917,754.56. Following the transaction, the director now directly owns 219,920 shares of the company’s stock, valued at approximately $4,279,643.20. This trade represents a 40.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,863 shares of company stock valued at $5,169,262 in the last ninety days. Insiders own 4.30% of the company’s stock.

Magnite 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.