Magnite, Inc. (NASDAQ:MGNI – Get Free Report) insider Katie Seitz Evans sold 20,000 shares of Magnite stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $24.00, for a total value of $480,000.00. Following the completion of the sale, the insider directly owned 496,840 shares of the company’s stock, valued at approximately $11,924,160. The trade was a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Magnite Stock Up 1.6%
Shares of MGNI stock traded up $0.40 during mid-day trading on Friday, hitting $24.72. The company’s stock had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.02. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $26.65. The business has a 50-day moving average price of $18.69 and a 200 day moving average price of $14.94.
Magnite (NASDAQ:MGNI – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Magnite had a return on equity of 9.47% and a net margin of 22.49%.The company had revenue of $192.82 million for the quarter, compared to analysts’ expectations of $179.15 million. During the same period last year, the firm posted $0.20 earnings per share. Magnite’s revenue was up 11.3% compared to the same quarter last year. Research analysts predict that Magnite, Inc. will post 0.55 EPS for the current fiscal year.
Trending Headlines about Magnite
- Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
- Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
- Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
- Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
- Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target
Wall Street Analyst Weigh In
MGNI has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Magnite in a report on Thursday, April 16th. Benchmark increased their price objective on shares of Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Evercore restated an “outperform” rating and set a $25.00 price objective on shares of Magnite in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Magnite from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Magnite in a research report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Magnite currently has an average rating of “Moderate Buy” and an average price target of $28.30.
Get Our Latest Stock Report on Magnite
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of MGNI. US Bancorp DE grew its stake in shares of Magnite by 75.8% during the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after purchasing an additional 688 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Magnite by 106.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock worth $45,000 after purchasing an additional 1,949 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Magnite by 98.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,678 shares of the company’s stock worth $61,000 after purchasing an additional 1,824 shares during the period. Harbor Investment Advisory LLC bought a new position in shares of Magnite in the 2nd quarter worth approximately $62,000. Finally, Optiver Holding B.V. boosted its holdings in shares of Magnite by 2,746.4% in the first quarter. Optiver Holding B.V. now owns 5,579 shares of the company’s stock worth $66,000 after buying an additional 5,383 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other 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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