Stephens Investment Management Group LLC Has $15.87 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Stephens Investment Management Group LLC boosted its stake in Magnite, Inc. (NASDAQ:MGNI) by 146.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 996,644 shares of the company’s stock after buying an additional 592,853 shares during the period. Stephens Investment Management Group LLC owned approximately 0.71% of Magnite worth $15,867,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP grew its position in shares of Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after purchasing an additional 4,508 shares during the last quarter. KBC Group NV boosted its stake in Magnite by 66.5% in the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock valued at $95,000 after purchasing an additional 2,374 shares during the period. Blue Trust Inc. increased its position in Magnite by 87.0% during the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after buying an additional 3,689 shares during the period. Lebenthal Global Advisors LLC bought a new position in Magnite during the 3rd quarter worth $141,000. Finally, Vicus Capital acquired a new stake in shares of Magnite during the third quarter worth $164,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity at Magnite

In related news, CRO Sean Patrick Buckley sold 10,001 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $156,015.60. Following the sale, the executive now owns 303,743 shares in the company, valued at $4,738,390.80. The trade was a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Brian Gephart sold 2,156 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.60, for a total value of $33,633.60. Following the completion of the transaction, the chief accounting officer now owns 112,795 shares of the company’s stock, valued at $1,759,602. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 566,458 shares of company stock valued at $10,135,410 in the last quarter. Insiders own 4.30% of the company’s stock.

Magnite Price Performance

Shares of MGNI stock opened at $21.17 on Monday. The business has a fifty day simple moving average of $16.74 and a 200 day simple moving average of $14.68. The company has a market cap of $2.98 billion, a P/E ratio of 352.83, a P/E/G ratio of 1.05 and a beta of 2.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The company had revenue of $162.00 million during the quarter, compared to analyst estimates of $147.94 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. During the same quarter in the previous year, the business posted $0.02 earnings per share. On average, sell-side analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MGNI shares. Wells Fargo & Company upped their price target on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Macquarie restated an “outperform” rating and set a $18.00 target price on shares of Magnite in a research report on Friday, November 8th. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Magnite in a research report on Friday, January 17th. Finally, Royal Bank of Canada lifted their price objective on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.35.

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.