Magnite, Inc. (NASDAQ:MGNI) Shares Purchased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC grew its stake in Magnite, Inc. (NASDAQ:MGNI) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 853,595 shares of the company’s stock after purchasing an additional 36,298 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.61% of Magnite worth $9,176,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. increased its holdings in Magnite by 4.2% in the fourth quarter. NBC Securities Inc. now owns 27,485 shares of the company’s stock valued at $256,000 after buying an additional 1,108 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of Magnite by 8.1% in the 1st quarter. Fulton Bank N.A. now owns 22,003 shares of the company’s stock valued at $237,000 after acquiring an additional 1,653 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Magnite by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 24,325 shares of the company’s stock valued at $261,000 after acquiring an additional 1,914 shares in the last quarter. Advisory Services Network LLC lifted its stake in Magnite by 1.9% during the fourth quarter. Advisory Services Network LLC now owns 127,106 shares of the company’s stock worth $1,187,000 after purchasing an additional 2,377 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in Magnite in the fourth quarter worth $25,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity

In related news, CAO Brian Gephart sold 16,166 shares of Magnite stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $15.00, for a total transaction of $242,490.00. Following the sale, the chief accounting officer now directly owns 121,169 shares of the company’s stock, valued at $1,817,535. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Michael G. Barrett sold 100,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $15.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief executive officer now owns 1,052,493 shares in the company, valued at approximately $15,787,395. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Gephart sold 16,166 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $15.00, for a total transaction of $242,490.00. Following the transaction, the chief accounting officer now directly owns 121,169 shares of the company’s stock, valued at $1,817,535. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,479 shares of company stock valued at $3,636,179. Insiders own 4.30% of the company’s stock.

Magnite Trading Down 2.1 %

Shares of NASDAQ MGNI opened at $14.16 on Wednesday. The business has a 50 day simple moving average of $13.55 and a 200 day simple moving average of $11.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.10 and a quick ratio of 1.10. Magnite, Inc. has a 52 week low of $6.28 and a 52 week high of $15.92.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, May 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $123.77 million. Magnite had a negative net margin of 12.24% and a positive return on equity of 3.23%. As a group, sell-side analysts forecast that Magnite, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on MGNI shares. Evercore ISI increased their target price on shares of Magnite from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. B. Riley started coverage on shares of Magnite in a report on Friday, April 19th. They issued a “buy” rating and a $14.50 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Magnite in a research report on Tuesday, July 9th. Wolfe Research began coverage on Magnite in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Magnite from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Magnite presently has a consensus rating of “Buy” and a consensus target price of $16.29.

Magnite Company 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.