Calamos Advisors LLC Sells 155,837 Shares of Magnite, Inc. (NASDAQ:MGNI)

Calamos Advisors LLC decreased its stake in Magnite, Inc. (NASDAQ:MGNI) by 81.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,143 shares of the company’s stock after selling 155,837 shares during the quarter. Calamos Advisors LLC’s holdings in Magnite were worth $559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP grew its position in Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares in the last quarter. KBC Group NV boosted its holdings in shares of Magnite by 66.5% in the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Magnite by 87.0% in the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after purchasing an additional 3,689 shares in the last quarter. Lebenthal Global Advisors LLC bought a new position in shares of Magnite during the 3rd quarter valued at about $141,000. Finally, Vicus Capital purchased a new position in shares of Magnite during the 3rd quarter valued at about $164,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Magnite Trading Up 1.5 %

MGNI opened at $17.97 on Thursday. Magnite, Inc. has a one year low of $8.38 and a one year high of $18.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $14.59. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 299.50, a PEG ratio of 0.90 and a beta of 2.52.

Magnite (NASDAQ:MGNI) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). The business had revenue of $162.00 million for the quarter, compared to the consensus estimate of $147.94 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. During the same quarter in the prior year, the company earned $0.02 EPS. Analysts predict that Magnite, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Magnite in a research note on Friday, January 17th. Macquarie reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Wolfe Research lifted 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. Scotiabank assumed coverage on shares of Magnite in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Magnite has an average rating of “Moderate Buy” and a consensus target price of $18.35.

Insider Buying and Selling at Magnite

In other Magnite news, CAO Brian Gephart sold 2,156 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $33,633.60. Following the transaction, the chief accounting officer now owns 112,795 shares in the company, valued at approximately $1,759,602. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Day sold 13,345 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $17.00, for a total value of $226,865.00. Following the completion of the transaction, the chief financial officer now owns 374,014 shares of the company’s stock, valued at approximately $6,358,238. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 360,985 shares of company stock valued at $6,096,135. 4.30% of the stock is currently owned by company insiders.

About Magnite

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.