Moody National Bank Trust Division Has $692,000 Holdings in Magnite, Inc. (NASDAQ:MGNI)

Moody National Bank Trust Division lifted its holdings in shares of Magnite, Inc. (NASDAQ:MGNI – Get Rating) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,376 shares of the company’s stock after purchasing an additional 8,700 shares during the quarter. Moody National Bank Trust Division’s holdings in Magnite were worth $692,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MGNI. Nuveen Asset Management LLC increased its stake in Magnite by 555.0% during the 3rd quarter. Nuveen Asset Management LLC now owns 17,128,277 shares of the company’s stock worth $112,533,000 after acquiring an additional 14,513,175 shares during the period. Vanguard Group Inc. increased its position in shares of Magnite by 2.2% in the third quarter. Vanguard Group Inc. now owns 12,090,420 shares of the company’s stock worth $79,435,000 after purchasing an additional 262,869 shares during the period. Edenbrook Capital LLC raised its stake in Magnite by 39.3% in the third quarter. Edenbrook Capital LLC now owns 5,792,796 shares of the company’s stock valued at $38,059,000 after purchasing an additional 1,633,560 shares in the last quarter. Renaissance Technologies LLC lifted its position in Magnite by 138.8% during the first quarter. Renaissance Technologies LLC now owns 1,964,654 shares of the company’s stock worth $25,953,000 after purchasing an additional 1,141,790 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Magnite by 17.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,391,141 shares of the company’s stock worth $9,139,000 after buying an additional 203,054 shares in the last quarter. 77.37% of the stock is currently owned by institutional investors.

Magnite Stock Performance

Shares of MGNI stock opened at $9.02 on Friday. Magnite, Inc. has a twelve month low of $5.59 and a twelve month high of $14.87. The stock’s fifty day simple moving average is $11.06 and its 200 day simple moving average is $9.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.18 and a current ratio of 1.18.

Magnite (NASDAQ:MGNI – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $175.40 million for the quarter, compared to analyst estimates of $154.00 million. Magnite had a negative net margin of 22.58% and a positive return on equity of 4.55%. On average, sell-side analysts predict that Magnite, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Magnite in a research report on Thursday, February 23rd. Royal Bank of Canada upped their target price on Magnite from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Benchmark reiterated a “buy” rating and issued a $14.00 price target on shares of Magnite in a research note on Tuesday, February 21st. Susquehanna boosted their price target on Magnite from $13.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, February 23rd. Finally, Vertical Research lowered Magnite to a “neutral” rating in a research note on Tuesday, January 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.13.

About Magnite

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Magnite, Inc provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D.