Greenwood Capital Associates LLC Has $1.04 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Greenwood Capital Associates LLC lifted its holdings in shares of Magnite, Inc. (NASDAQ:MGNI) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,760 shares of the company’s stock after buying an additional 9,368 shares during the period. Greenwood Capital Associates LLC’s holdings in Magnite were worth $1,035,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of Magnite by 111.8% during the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after buying an additional 1,188 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of Magnite during the 2nd quarter worth about $52,000. Blue Trust Inc. acquired a new position in shares of Magnite during the 2nd quarter worth about $56,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Magnite by 973.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock worth $58,000 after buying an additional 3,972 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Magnite during the 2nd quarter worth about $93,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Magnite Stock Up 2.5 %

Shares of MGNI opened at $12.50 on Wednesday. Magnite, Inc. has a 12 month low of $6.55 and a 12 month high of $15.92. The firm’s 50 day moving average is $12.82 and its 200-day moving average is $12.62. The stock has a market capitalization of $1.76 billion, a PE ratio of -113.64, a P/E/G ratio of 1.16 and a beta of 2.43. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77.

Magnite (NASDAQ:MGNI) last announced its earnings results on Wednesday, August 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Magnite had a positive return on equity of 3.74% and a negative net margin of 0.83%. The business had revenue of $162.88 million for the quarter, compared to the consensus estimate of $144.04 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Magnite, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MGNI. Wells Fargo & Company began coverage on shares of Magnite in a research note on Monday, October 28th. They issued an “equal weight” rating and a $13.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of Magnite in a research note on Friday, September 27th. Lake Street Capital began coverage on shares of Magnite in a research note on Thursday, July 25th. They issued a “buy” rating and a $21.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Magnite in a research note on Wednesday, October 2nd. Finally, Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of Magnite in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.86.

Insider Transactions at Magnite

In other news, CRO Sean Patrick Buckley sold 2,623 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.53, for a total transaction of $32,866.19. Following the transaction, the executive now directly owns 331,742 shares of the company’s stock, valued at approximately $4,156,727.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO Sean Patrick Buckley sold 2,623 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.53, for a total transaction of $32,866.19. Following the transaction, the executive now directly owns 331,742 shares of the company’s stock, valued at approximately $4,156,727.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael G. Barrett sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $12.63, for a total transaction of $947,250.00. Following the sale, the chief executive officer now owns 944,552 shares in the company, valued at $11,929,691.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,533 shares of company stock valued at $1,206,203. 4.30% of the stock is currently owned by company insiders.

Magnite Profile

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.