Sean Patrick Buckley Sells 10,886 Shares of Magnite (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,886 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $23.85, for a total transaction of $259,631.10. Following the completion of the sale, the insider owned 336,508 shares in the company, valued at approximately $8,025,715.80. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sean Patrick Buckley also recently made the following trade(s):

• On Tuesday, August 19th, Sean Patrick Buckley sold 9,315 shares of Magnite stock. The stock was sold at an average price of $23.42, for a total transaction of $218,157.30.

Magnite Trading Up 3.1%

MGNI opened at $22.52 on Friday. The firm’s fifty day moving average is $22.36 and its two-hundred day moving average is $17.17. 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 has a market cap of $3.21 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 1.50 and a beta of 3.05. Magnite, Inc. has a twelve month low of $8.22 and a twelve month high of $25.27.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The business had revenue of $162.00 million for the quarter, compared to analyst estimates of $157.05 million. During the same period last year, the business posted $0.14 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Susquehanna raised their price objective on shares of Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Craig Hallum set a $24.00 price target on shares of Magnite and gave the company a “buy” rating in a research note on Tuesday, May 20th. Wall Street Zen raised shares of Magnite from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Needham & Company LLC lifted their target price on shares of Magnite from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of Magnite from $13.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $25.82.

Institutional Trading of Magnite

Several hedge funds and other institutional investors have recently bought and sold shares of MGNI. GAMMA Investing LLC raised its position 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 buying an additional 1,184 shares in the last quarter. CWM LLC raised its position in shares of Magnite by 133.6% in the 2nd quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after buying an additional 1,015 shares in the last quarter. MCF Advisors LLC increased its position in Magnite by 2,100.0% during the 1st quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock worth $25,000 after purchasing an additional 2,100 shares in the last quarter. MTM Investment Management LLC acquired a new position in Magnite during the 2nd quarter worth approximately $58,000. Finally, Nisa Investment Advisors LLC increased its position in Magnite by 66.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,780 shares of the company’s stock worth $67,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.