Lebenthal Global Advisors LLC Acquires Shares of 10,195 Magnite, Inc. (NASDAQ:MGNI)

Lebenthal Global Advisors LLC acquired a new stake in shares of Magnite, Inc. (NASDAQ:MGNI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,195 shares of the company’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mount Yale Investment Advisors LLC grew its holdings in Magnite by 4.6% during the third quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock valued at $336,000 after purchasing an additional 1,068 shares during the period. Arizona State Retirement System boosted its holdings in shares of Magnite by 3.4% in the second quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock worth $469,000 after acquiring an additional 1,160 shares during the period. UMB Bank n.a. boosted its holdings in shares of Magnite by 111.8% in the second quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after acquiring an additional 1,188 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Magnite by 6.4% in the third quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock worth $392,000 after acquiring an additional 1,696 shares during the period. Finally, Moody National Bank Trust Division boosted its holdings in shares of Magnite by 2.4% in the second quarter. Moody National Bank Trust Division now owns 75,367 shares of the company’s stock worth $1,002,000 after acquiring an additional 1,783 shares during the period. 73.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Magnite

In other Magnite news, CRO Sean Patrick Buckley sold 2,623 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.53, for a total transaction of $32,866.19. Following the sale, the executive now owns 331,742 shares in the company, valued at $4,156,727.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Adam Lee Soroca sold 7,910 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.59, for a total transaction of $99,586.90. Following the transaction, the insider now directly owns 436,001 shares of the company’s stock, valued at approximately $5,489,252.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Patrick Buckley sold 2,623 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.53, for a total value of $32,866.19. Following the transaction, the executive now directly owns 331,742 shares in the company, valued at $4,156,727.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,533 shares of company stock worth $1,206,203 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Wednesday, August 21st. Wells Fargo & Company assumed coverage on Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price target for the company. Wolfe Research assumed coverage on Magnite in a report on Tuesday, July 16th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Magnite in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Magnite has an average rating of “Moderate Buy” and an average target price of $16.86.

Magnite Trading Down 0.6 %

Shares of MGNI stock opened at $12.41 on Friday. The business’s fifty day moving average is $12.88 and its 200 day moving average is $12.51. Magnite, Inc. has a 52-week low of $6.55 and a 52-week high of $15.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $1.75 billion, a PE ratio of -112.82, a price-to-earnings-growth ratio of 1.11 and a beta of 2.41.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Magnite had a negative net margin of 0.83% and a positive return on equity of 3.74%. The firm had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $144.04 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Magnite, Inc. will post 0.31 EPS for the current fiscal year.

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.