Magnite, Inc. (NASDAQ:MGNI – Get Free Report) Director Douglas Knopper sold 37,337 shares of Magnite stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $18.10, for a total transaction of $675,799.70. Following the transaction, the director owned 125,810 shares of the company’s stock, valued at approximately $2,277,161. The trade was a 22.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Magnite Price Performance
Shares of NASDAQ:MGNI opened at $17.89 on Friday. The stock’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $13.99. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $26.65. The company has a market capitalization of $2.56 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.91 and a beta of 2.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38.
Magnite (NASDAQ:MGNI – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $164.37 million for the quarter, compared to analysts’ expectations of $159.24 million. Magnite had a net margin of 21.96% and a return on equity of 8.40%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS. As a group, equities research analysts forecast that Magnite, Inc. will post 0.55 earnings per share for the current fiscal year.
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Magnite by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company’s stock worth $854,000 after buying an additional 3,267 shares during the period. Millennium Management LLC boosted its holdings in shares of Magnite by 113.7% during the first quarter. Millennium Management LLC now owns 434,479 shares of the company’s stock valued at $4,957,000 after acquiring an additional 231,213 shares during the period. Jones Financial Companies Lllp grew its position in shares of Magnite by 24.3% during the first quarter. Jones Financial Companies Lllp now owns 7,276 shares of the company’s stock worth $83,000 after acquiring an additional 1,423 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Magnite by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 404,717 shares of the company’s stock worth $4,618,000 after acquiring an additional 36,097 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Magnite by 103.6% in the 1st quarter. Intech Investment Management LLC now owns 109,992 shares of the company’s stock worth $1,255,000 after acquiring an additional 55,971 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.
About Magnite
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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