Magnite, Inc. (NASDAQ:MGNI – Get Free Report) Director David Pearson sold 10,766 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $15.65, for a total value of $168,487.90. Following the sale, the director owned 79,001 shares in the company, valued at $1,236,365.65. The trade was a 11.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Magnite Stock Down 0.9%
MGNI opened at $15.67 on Thursday. Magnite, Inc. has a 12 month low of $10.82 and a 12 month high of $26.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $2.24 billion, a P/E ratio of 15.07, a P/E/G ratio of 0.75 and a beta of 2.32. The stock’s 50 day moving average price is $13.32 and its 200 day moving average price is $13.85.
Magnite (NASDAQ:MGNI – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Magnite had a return on equity of 8.40% and a net margin of 21.96%.The company had revenue of $164.37 million for the quarter, compared to analysts’ expectations of $159.24 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Magnite, Inc. will post 0.6 earnings per share for the current year.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Magnite
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in Magnite in the third quarter valued at approximately $27,000. US Bancorp DE increased its stake in Magnite by 75.8% in the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after acquiring an additional 688 shares during the last quarter. State of Wyoming bought a new position in Magnite in the third quarter valued at approximately $39,000. Central Pacific Bank Trust Division bought a new position in Magnite in the fourth quarter valued at approximately $41,000. Finally, Strategic Advocates LLC bought a new position in Magnite in the third quarter valued at approximately $42,000. 73.40% of the stock is owned by institutional investors.
Magnite Company Profile
Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.
At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).
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