Magnite (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 4,426 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 4,426 shares of Magnite stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $13.36, for a total value of $59,131.36. Following the completion of the transaction, the insider directly owned 271,125 shares in the company, valued at approximately $3,622,230. This represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 8th, Sean Patrick Buckley sold 20,000 shares of Magnite stock. The shares were sold at an average price of $25.56, for a total transaction of $511,200.00.

Magnite Trading Up 0.3%

Shares of NASDAQ:MGNI traded up $0.04 during trading on Tuesday, reaching $13.40. The stock had a trading volume of 1,420,763 shares, compared to its average volume of 2,809,303. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $26.65. 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’s fifty day moving average is $19.31 and its 200 day moving average is $20.23. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 46.21, a P/E/G ratio of 1.42 and a beta of 3.13.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.20. The firm had revenue of $179.49 million for the quarter, compared to analysts’ expectations of $163.29 million. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

MGNI has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Benchmark raised their target price on Magnite from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Needham & Company LLC upped their price target on Magnite from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Scotiabank reissued an “outperform” rating and issued a $30.00 price target (up from $22.00) on shares of Magnite in a research report on Thursday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $39.00 price objective on shares of Magnite in a report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC boosted 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 valued at $25,000 after buying an additional 2,100 shares during the period. Neo Ivy Capital Management bought a new position in shares of Magnite during the third quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 1,203 shares during the period. US Bancorp DE increased its holdings in Magnite by 75.8% during the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after purchasing an additional 688 shares during the period. Finally, GAMMA Investing LLC raised its position in Magnite by 355.6% during 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 during the last quarter. Institutional investors 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.