Magnite, Inc. (NASDAQ:MGNI – Get Free Report) insider Sean Buckley sold 10,991 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $27.00, for a total value of $296,757.00. Following the sale, the insider directly owned 282,069 shares in the company, valued at approximately $7,615,863. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Magnite Stock Performance
Shares of MGNI stock opened at $27.39 on Monday. Magnite, Inc. has a twelve month low of $10.82 and a twelve month high of $28.17. The stock’s fifty day simple moving average is $24.06 and its 200 day simple moving average is $17.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.93 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.93 and a beta of 2.44.
Magnite (NASDAQ:MGNI – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. Magnite had a return on equity of 10.94% and a net margin of 23.58%. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. As a group, sell-side analysts predict that Magnite, Inc. will post 0.61 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on MGNI shares. Wells Fargo & Company boosted their target price on shares of Magnite from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday. Royal Bank Of Canada raised their price target on shares of Magnite from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research reiterated a “buy” rating and set a $27.00 price target on shares of Magnite in a report on Wednesday, September 9th. Evercore reissued an “outperform” rating and issued a $25.00 price objective on shares of Magnite in a research note on Thursday, August 6th. Finally, B. Riley Financial increased their price objective on Magnite from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 18th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.45.
Get Our Latest Stock Analysis on MGNI
Trending Headlines about Magnite
Here are the key news stories impacting Magnite this week:
- Positive Sentiment: Magnite beat Q3 estimates, reporting $0.33 in adjusted earnings per share and $204.2 million in revenue. Contribution ex-TAC increased 20% year over year to $201 million, led by CTV contribution ex-TAC growth of 39% to $105 million. Magnite: 3 Key Takeaways for Long-Term Investors
- Positive Sentiment: The company raised its 2026 contribution ex-TAC growth outlook to about 17% and said it expects 2027 adjusted EBITDA margin of at least 38.5%, signaling confidence in growth and operating leverage. Magnite raises 2026 outlook and signals 2027 margins
- Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, reflecting continued analyst optimism. RBC raises Magnite price target
- Neutral Sentiment: CTO David Buonasera and insider Sean Buckley sold 5,706 and 10,991 shares, respectively. Both transactions were made under pre-arranged Rule 10b5-1 plans, and each retained a substantial stake. Buonasera SEC filing Buckley SEC filing
- Negative Sentiment: Wells Fargo raised its target to $23 from $22 but kept an Equal Weight rating; the target remains below the stock’s recent trading level, suggesting a more cautious view than RBC’s. Wells Fargo analyst recommendations
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in Magnite by 30.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 97,174 shares of the company’s stock valued at $2,455,000 after buying an additional 22,736 shares in the last quarter. Fifth Third Bancorp raised its stake in Magnite by 59.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,380 shares of the company’s stock worth $60,000 after buying an additional 886 shares during the period. Lisanti Capital Growth LLC raised its stake in Magnite by 24.9% during the 3rd quarter. Lisanti Capital Growth LLC now owns 360,985 shares of the company’s stock worth $9,118,000 after buying an additional 71,955 shares during the period. Ritholtz Wealth Management bought a new position in Magnite in the third quarter worth approximately $220,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Magnite in the third quarter worth approximately $2,669,000. 73.40% of the stock is owned by institutional investors.
About Magnite
Magnite, Inc operates a sell-side advertising platform that helps publishers, streaming services and app developers sell digital advertising inventory through programmatic auctions. Its technology connects those sellers with advertisers and their agencies seeking to buy ad placements.
The company supports advertising across connected TV, online video, mobile applications and desktop formats. Its offerings include tools for managing and monetizing ad inventory, including streaming-focused ad-serving technology.
Magnite was formed in 2020 through the merger of The Rubicon Project and Telaria, and later expanded its streaming business with the acquisition of SpotX.
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