SG Americas Securities LLC Buys 17,373 Shares of Magnite, Inc. $MGNI

SG Americas Securities LLC lifted its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 72.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,378 shares of the company’s stock after acquiring an additional 17,373 shares during the quarter. SG Americas Securities LLC’s holdings in Magnite were worth $998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Magnite by 1.0% during the first quarter. Vanguard Group Inc. now owns 13,743,521 shares of the company’s stock valued at $156,814,000 after acquiring an additional 138,417 shares during the last quarter. Boston Partners lifted its position in shares of Magnite by 5.7% in the 2nd quarter. Boston Partners now owns 5,574,604 shares of the company’s stock worth $133,037,000 after purchasing an additional 298,248 shares during the period. Nuveen LLC bought a new stake in shares of Magnite in the 1st quarter valued at $41,036,000. Geode Capital Management LLC increased its position in shares of Magnite by 6.0% during the second quarter. Geode Capital Management LLC now owns 3,216,842 shares of the company’s stock worth $77,597,000 after buying an additional 183,414 shares during the period. Finally, American Century Companies Inc. raised its stake in Magnite by 855.2% during the first quarter. American Century Companies Inc. now owns 2,961,009 shares of the company’s stock worth $33,785,000 after buying an additional 2,651,033 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGNI. Wall Street Zen lowered shares of Magnite from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Susquehanna lifted their price target on shares of Magnite from $22.00 to $28.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Needham & Company LLC boosted their target price on shares of Magnite from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $39.00 target price on shares of Magnite in a report on Thursday, November 6th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.20.

Insider Activity at Magnite

In other Magnite news, insider Sean Patrick Buckley sold 4,426 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $13.36, for a total value of $59,131.36. Following the sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Spillane sold 12,500 shares of Magnite stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $14.22, for a total value 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 sold a total of 205,349 shares of company stock valued at $4,810,780 over the last ninety days. Insiders own 3.80% of the company’s stock.

Magnite Trading Up 7.2%

Shares of Magnite stock opened at $14.08 on Friday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 48.55, a PEG ratio of 1.42 and a beta of 3.13. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $26.65. The company’s 50-day moving average price is $18.69 and its 200-day moving average price is $20.20. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The business had revenue of $179.49 million for the quarter, compared to the consensus estimate of $163.29 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities analysts expect that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

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.