2 weeks Ago By Defense World Staff
Wells Fargo & Company MN decreased its stake in shares of Magnite, Inc. (NASDAQ:MGNI – Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission.
The firm owned 228,018 shares of the company’s stock after selling 5,046 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Magnite worth $3,630,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MGNI. Merit Financial Group LLC acquired a new position in shares of Magnite during the fourth quarter valued at approximately $586,000. Rice Hall James & Associates LLC bought a new position in Magnite during the 4th quarter valued at $3,000,000.
Jennison Associates LLC acquired a new position in shares of Magnite during the 4th quarter valued at $818,000. JPMorgan Chase & Co. raised its stake in shares of Magnite by 5.
9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,511,439 shares of the company’s stock worth $24,062,000 after buying an additional 84,497 shares in the last quarter.
Finally, Penbrook Management LLC lifted its holdings in shares of Magnite by 60.8% in the fourth quarter. Penbrook Management LLC now owns 38,480 shares of the company’s stock valued at $613,000 after buying an additional 14,550 shares during the period.
73.40% of the stock is currently owned by institutional investors. Insider Activity at MagniteIn other Magnite news, Director Paul Caine sold 5,000 shares of the business’s stock in a transaction dated Monday, February 10th.
The stock was sold at an average price of $20.35, for a total value of $101,750.00.
Following the transaction, the director now owns 182,837 shares in the company, valued at $3,720,732.95. The trade was a 2.
66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brian Gephart sold 6,250 shares of the company’s stock in a transaction dated Monday, March 3rd.
The stock was sold at an average price of $16.00, for a total value of $100,000.00.
Following the completion of the transaction, the chief accounting officer now directly owns 132,909 shares in the company, valued at approximately $2,126,544. The trade was a 4.49 % decrease in their ownership of the stock.
The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,905 shares of company stock valued at $4,718,855. Corporate insiders own 4.
30% of the company’s stock. Analyst Upgrades and DowngradesA number of research firms recently issued reports on MGNI. Benchmark reaffirmed a “buy” rating and set a $25.
00 target price on shares of Magnite in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Magnite in a research note on Monday.
Royal Bank of Canada boosted their target price on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd.
Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd.
Finally, Wells Fargo & Company upped their price target on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th.
One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magnite presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.
Read Our Latest Analysis on MagniteMagnite Price PerformanceShares of NASDAQ:MGNI opened at $11.39 on Wednesday. The company’s fifty day moving average is $13.
14 and its two-hundred day moving average is $14.81. The company has a market cap of $1.
63 billion, a P/E ratio of 189.83, a price-to-earnings-growth ratio of 1.00 and a beta of 2.
69. Magnite, Inc. has a 12-month low of $8.
22 and a 12-month high of $21.29. The company has a quick ratio of 1.
11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.
Magnite (NASDAQ:MGNI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.
39 by ($0.14). Magnite had a net margin of 2.
62% and a return on equity of 4.64%. The business had revenue of $180.
20 million for the quarter, compared to analyst estimates of $183.90 million. Equities analysts expect that Magnite, Inc.
will post 0.33 earnings per share for the current fiscal year. Magnite Company Profile (Free Report)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.Featured ArticlesFive stocks we like better than Magnite3 Monster Growth Stocks to Buy NowHow to Invest in Micro-Cap Stocks Like a ProBreakout Stocks: What They Are and How to Identify ThemInvestors Sell Microsoft Stock on OpenAI News—Time to Buy? 5 Top Rated Dividend Stocks to ConsiderTake-Two Interactive: A Defensive Play Set to Explode.
