Magnite, Inc. (NASDAQ:MGNI) Director Rachel Lam Sells 5,000 Shares of Stock


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Magnite, Inc. (NASDAQ:MGNI) Director Rachel Lam sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $43.50, for a total value of $217,500.00. Following the completion of the sale, the director now owns 181,327 shares of the company’s stock, valued at $7,887,724.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:MGNI opened at $39.76 on Thursday. The company’s fifty day moving average is $46.93 and its two-hundred day moving average is $28.27. Magnite, Inc. has a 12-month low of $4.60 and a 12-month high of $64.39. The company has a market cap of $4.60 billion, a P/E ratio of -65.18 and a beta of 2.45.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, February 24th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. Magnite had a negative net margin of 30.72% and a negative return on equity of 9.19%. Analysts expect that Magnite, Inc. will post -0.21 EPS for the current year.

A number of equities research analysts have weighed in on MGNI shares. TheStreet upgraded Magnite from a “d” rating to a “c-” rating in a research report on Friday, December 11th. Craig Hallum upped their target price on Magnite from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Susquehanna Bancshares initiated coverage on Magnite in a research report on Friday, December 18th. They issued a “positive” rating and a $30.00 target price for the company. B. Riley reaffirmed a “neutral” rating on shares of Magnite in a report on Thursday, January 28th. Finally, Truist cut Magnite from a “buy” rating to a “hold” rating and upped their price target for the company from $12.00 to $37.00 in a report on Monday, January 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Magnite currently has an average rating of “Buy” and an average price target of $41.63.

Several institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in Magnite in the fourth quarter worth $25,000. AdvisorNet Financial Inc bought a new stake in Magnite in the fourth quarter worth $31,000. Parkside Financial Bank & Trust bought a new stake in Magnite in the fourth quarter worth $31,000. Pittenger & Anderson Inc. bought a new stake in Magnite in the fourth quarter worth $31,000. Finally, Orion Capital Management LLC bought a new stake in Magnite in the fourth quarter worth $31,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

Magnite Company Profile

Magnite, Inc provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D.

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Insider Buying and Selling by Quarter for Magnite (NASDAQ:MGNI)

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