Magnite (NASDAQ:MGNI) Insider Sells $143,638.11 in Stock

by · The Markets Daily

Magnite, Inc. (NASDAQ:MGNI – Get Free Report) insider Adam Lee Soroca sold 10,857 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $13.23, for a total transaction of $143,638.11. Following the transaction, the insider owned 326,114 shares in the company, valued at approximately $4,314,488.22. The trade was a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Adam Lee Soroca also recently made the following trade(s):

  • On Tuesday, September 2nd, Adam Lee Soroca sold 24,986 shares of Magnite stock. The shares were sold at an average price of $24.69, for a total transaction of $616,904.34.

Magnite Stock Performance

Shares of Magnite stock traded up $0.04 during trading on Tuesday, reaching $13.40. The company’s stock had a trading volume of 1,420,763 shares, compared to its average volume of 2,809,303. The firm has a market cap of $1.92 billion, a PE ratio of 46.21, a P/E/G ratio of 1.42 and a beta of 3.13. Magnite, Inc. has a 52 week low of $8.22 and a 52 week high of $26.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $19.31 and its 200-day moving average price is $20.23.

Magnite (NASDAQ:MGNI – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $179.49 million during 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on MGNI shares. Wells Fargo & Company decreased their price objective on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Royal Bank Of Canada upped their price objective on Magnite from $19.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $39.00 target price on shares of Magnite in a research note on Thursday, November 6th. Scotiabank reiterated an “outperform” rating and set a $30.00 price objective (up from $22.00) on shares of Magnite in a research report on Thursday, August 7th. Finally, Wall Street Zen downgraded Magnite from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Magnite presently has an average rating of “Moderate Buy” and a consensus target price of $26.20.

View Our Latest Report on MGNI

Hedge Funds Weigh In On Magnite

A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR grew its holdings in Magnite by 0.6% during the third quarter. Stephens Inc. AR now owns 83,468 shares of the company’s stock worth $1,818,000 after buying an additional 517 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Magnite by 20.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,387 shares of the company’s stock valued at $82,000 after purchasing an additional 577 shares in the last quarter. Winthrop Advisory Group LLC boosted its holdings in Magnite by 4.5% during the second quarter. Winthrop Advisory Group LLC now owns 14,000 shares of the company’s stock worth $338,000 after purchasing an additional 600 shares during the last quarter. US Bancorp DE increased its stake in Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after buying an additional 688 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Magnite by 45.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock worth $53,000 after buying an additional 755 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

About Magnite

(Get 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 Articles