Moody National Bank Trust Division Purchases 36,460 Shares of Magnite, Inc. $MGNI

Moody National Bank Trust Division increased its holdings in Magnite, Inc. (NASDAQ:MGNI) by 22.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,792 shares of the company’s stock after acquiring an additional 36,460 shares during the quarter. Moody National Bank Trust Division’s holdings in Magnite were worth $4,308,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MGNI. GAMMA Investing LLC raised its holdings in shares of Magnite by 355.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,184 shares in the last quarter. CWM LLC increased its holdings in Magnite by 133.6% during the second quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after buying an additional 1,015 shares during the period. MTM Investment Management LLC bought a new position in Magnite in the second quarter worth approximately $58,000. Nisa Investment Advisors LLC raised its stake in Magnite by 66.0% in 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 lifted its holdings in Magnite by 74.9% during the first quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock worth $33,000 after buying an additional 1,203 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MGNI shares. Wall Street Zen downgraded Magnite from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnite in a research report on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Magnite in a research note on Thursday, November 6th. Finally, Wells Fargo & Company decreased their price target on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Magnite has an average rating of “Moderate Buy” and an average price target of $26.20.

Magnite Trading Up 4.4%

Shares of NASDAQ:MGNI opened at $16.54 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $2.38 billion, a P/E ratio of 43.53, a P/E/G ratio of 1.20 and a beta of 2.49. The business’s 50-day moving average is $16.26 and its 200 day moving average is $20.18. Magnite, Inc. has a 1 year low of $8.22 and a 1 year high of $26.65.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. Magnite had a return on equity of 8.74% and a net margin of 8.25%.The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, research analysts predict that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Activity at Magnite

In other Magnite news, Director Paul Caine sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the director owned 153,603 shares in the company, valued at approximately $3,072,060. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Spillane sold 12,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $14.22, for a total transaction of $177,750.00. Following the completion of the transaction, the director directly owned 53,917 shares of the company’s stock, valued at approximately $766,699.74. This represents a 18.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,805 shares of company stock worth $876,808 in the last 90 days. 4.30% of the stock is owned by insiders.

About Magnite

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.