Universal Beteiligungs und Servicegesellschaft mbH Acquires 13,652 Shares of Magnite, Inc. $MGNI

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Magnite, Inc. (NASDAQ:MGNI) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 614,317 shares of the company’s stock after buying an additional 13,652 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Magnite were worth $14,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nuveen LLC bought a new position in Magnite in the first quarter worth approximately $41,036,000. American Century Companies Inc. increased its stake in shares of Magnite by 855.2% in the 1st quarter. American Century Companies Inc. now owns 2,961,009 shares of the company’s stock worth $33,785,000 after purchasing an additional 2,651,033 shares in the last quarter. Pacer Advisors Inc. bought a new position in Magnite in the 1st quarter worth $12,576,000. Boston Partners raised its holdings in Magnite by 10.9% in the 1st quarter. Boston Partners now owns 5,276,356 shares of the company’s stock worth $60,187,000 after purchasing an additional 520,033 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in Magnite by 42.0% during the second quarter. Stephens Investment Management Group LLC now owns 1,350,096 shares of the company’s stock valued at $32,564,000 after purchasing an additional 399,440 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MGNI has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Magnite from $19.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Scotiabank restated an “outperform” rating and set a $30.00 target price (up previously from $22.00) on shares of Magnite in a research note on Thursday, August 7th. Wells Fargo & Company lowered their price target on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Benchmark upped their price target on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Susquehanna raised their price objective 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. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

Insiders Place Their Bets

In other Magnite news, insider Sean Patrick Buckley sold 4,426 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $13.36, for a total transaction of $59,131.36. Following the completion of the transaction, the insider owned 271,125 shares of the company’s stock, valued at $3,622,230. This represents a 1.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Gephart sold 27,671 shares of Magnite stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $24.71, for a total value of $683,750.41. Following the completion of the sale, the chief accounting officer directly owned 92,898 shares in the company, valued at $2,295,509.58. This trade represents a 22.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 192,849 shares of company stock worth $4,633,030. 4.30% of the stock is owned by corporate insiders.

Magnite Trading Up 1.0%

MGNI stock opened at $13.53 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. Magnite, Inc. has a 1-year low of $8.22 and a 1-year high of $26.65. The business has a 50 day simple moving average of $19.11 and a two-hundred day simple moving average of $20.19. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 1.42 and a beta of 3.13.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The firm had revenue of $179.49 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that Magnite, Inc. will post 0.33 EPS 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.