Lisanti Capital Growth LLC Buys 224,160 Shares of Magnite, Inc. $MGNI

Lisanti Capital Growth LLC raised its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 155.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,015 shares of the company’s stock after acquiring an additional 224,160 shares during the period. Magnite makes up approximately 2.5% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 2nd largest position. Lisanti Capital Growth LLC owned about 0.26% of Magnite worth $8,877,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Magnite by 355.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,184 shares during the period. CWM LLC boosted its position in shares of Magnite by 133.6% in the second quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after acquiring an additional 1,015 shares during the period. MCF Advisors LLC boosted its position in shares of Magnite by 2,100.0% in the first quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock valued at $25,000 after acquiring an additional 2,100 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Magnite by 66.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,780 shares of the company’s stock valued at $67,000 after acquiring an additional 1,105 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Magnite by 74.9% during the first quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock worth $33,000 after acquiring an additional 1,203 shares during the period. Institutional investors own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Wells Fargo & Company cut their price target on Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday. Wall Street Zen downgraded Magnite from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank reaffirmed an “outperform” rating and issued a $30.00 price objective (up from $22.00) on shares of Magnite in a report on Thursday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $39.00 price objective on shares of Magnite in a research note on Thursday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $15.10 on Friday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 52.07, a PEG ratio of 1.42 and a beta of 3.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00. Magnite, Inc. has a fifty-two week low of $8.22 and a fifty-two week high of $26.65. The firm’s 50-day simple moving average is $20.85 and its 200 day simple moving average is $20.08.

Magnite (NASDAQ:MGNI) last posted its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts anticipate that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael G. Barrett sold 35,951 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $23.85, for a total transaction of $857,431.35. Following the sale, the chief executive officer owned 249,857 shares of the company’s stock, valued at approximately $5,959,089.45. This represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Gephart sold 27,671 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $24.71, for a total value of $683,750.41. Following the sale, the chief accounting officer owned 92,898 shares in the company, valued at approximately $2,295,509.58. This represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 328,275 shares of company stock valued at $7,977,776 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

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.