Magnetar Financial LLC Purchases New Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Magnetar Financial LLC purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,736 shares of the company’s stock, valued at approximately $422,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PUBM. Wellington Management Group LLP increased its stake in PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after acquiring an additional 519,275 shares during the period. Avestar Capital LLC bought a new position in PubMatic during the fourth quarter valued at about $4,701,000. Nordea Investment Management AB increased its stake in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after acquiring an additional 269,217 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after purchasing an additional 100,479 shares during the period. 64.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PubMatic news, insider Mukul Kumar sold 4,480 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20. Following the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $771,754.20. This represents a 7.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Amar K. Goel sold 4,087 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $60,651.08. Following the transaction, the chairman now directly owns 14,044 shares in the company, valued at approximately $208,412.96. This represents a 22.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,811 shares of company stock valued at $1,438,381. 2.90% of the stock is currently owned by corporate insiders.

PubMatic Price Performance

NASDAQ PUBM opened at $9.75 on Friday. The firm has a market cap of $473.14 million, a PE ratio of 31.45 and a beta of 1.48. PubMatic, Inc. has a one year low of $9.07 and a one year high of $25.36. The stock’s 50 day simple moving average is $13.47 and its 200 day simple moving average is $14.62.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, equities analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

PUBM has been the topic of several analyst reports. Royal Bank of Canada lowered their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Scotiabank lowered their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Finally, Lake Street Capital lowered their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus target price of $19.89.

PubMatic Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.