Magnite, Inc. (NASDAQ:MGNI) Stock Holdings Increased by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 6.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 309,976 shares of the company’s stock after purchasing an additional 17,545 shares during the period. American Century Companies Inc.’s holdings in Magnite were worth $4,935,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Magnite by 125.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock valued at $91,128,000 after acquiring an additional 3,659,759 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in Magnite in the 3rd quarter worth about $23,917,000. Boston Partners raised its stake in shares of Magnite by 39.1% during the 4th quarter. Boston Partners now owns 4,756,323 shares of the company’s stock worth $76,061,000 after purchasing an additional 1,336,458 shares in the last quarter. Maestria Partners LLC acquired a new stake in shares of Magnite during the 4th quarter valued at about $15,161,000. Finally, Stephens Investment Management Group LLC grew its stake in shares of Magnite by 146.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company’s stock valued at $15,867,000 after buying an additional 592,853 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Stock Performance

MGNI opened at $9.08 on Friday. Magnite, Inc. has a 12-month low of $8.38 and a 12-month high of $21.29. The firm has a market capitalization of $1.30 billion, a P/E ratio of 151.33, a price-to-earnings-growth ratio of 1.00 and a beta of 2.69. The stock’s 50 day moving average price is $15.50 and its two-hundred day moving average price is $15.09. 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 (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.14). The company had revenue of $180.20 million during the quarter, compared to analyst estimates of $183.90 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. On average, equities analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Magnite

In related news, insider Adam Lee Soroca sold 15,499 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the transaction, the insider now directly owns 458,386 shares of the company’s stock, valued at $7,219,579.50. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Patrick Buckley sold 18,693 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the sale, the insider now directly owns 408,529 shares in the company, valued at $8,170,580. This trade represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 244,905 shares of company stock worth $4,718,855. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MGNI. Royal Bank of Canada lifted their target price on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Susquehanna lifted their price objective on shares of Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research note on Thursday, February 27th. Wolfe Research increased their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price target on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.27.

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.