Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley sells 2,623 shares

Magnite, Inc. (NASDAQ:MGNI – Get Your Free Report ) CRO Sean Patrick Buckley sold 2,623 shares of Magnite stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.53, for a total value of $32,866.19. Following the transaction, the director now owns 331,742 shares of the company’s stock, valued at $4,156,727.26. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink.

Sean Patrick Buckley also recently traded:

• On Monday, July 15th, Sean Patrick Buckley sold 19,607 shares of Magnite stock. The stock was sold at an average price of $14.50, for a total value of $284,301.50.
• On Friday, May 24th, Sean Patrick Buckley sold 2,682 shares of Magnite stock. The shares were sold at an average price of $12.50, for a total transaction of $33,525.00.

Magnite stock performance

MGNI stock traded down $0.09 during trading on Thursday, hitting $13.56. 63,545 shares of the company traded hands, compared to its average volume of 1,568,991. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -21.33, a price-to-earnings-growth ratio of 1.09 and a beta of 2.35. Magnite, Inc. it has a 52-week low of $6.28 and a 52-week high of $15.92. The stock has a fifty day moving average price of $13.65 and a two hundred day moving average price of $11.59. The company has a quick ratio of 1.10, a current ratio of 1.10, and a debt-to-equity ratio of 0.77.

Magnite (NASDAQ:MGNI – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Magnite had a positive return on equity of 3.74% and a negative net margin of 0.83%. The business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $144.04 million. During the same period in the previous year, the company earned EPS of ($0.04). The company’s revenue increased by 6.8% year-on-year. As a group, equities analysts anticipate that Magnite, Inc. will post 0.31 EPS for the current fiscal year.

Institutional investors are weighing in on Magnite

Several institutional investors have recently bought and sold shares of the stock. Truist Financial Corp boosted its stake in Magnite by 42.9% in the second quarter. Truist Financial Corp now owns 68,307 shares of the company’s stock worth $908,000 after acquiring an additional 20,517 shares during the period. Algert Global LLC boosted its holdings in shares of Magnite by 6.6% in the second quarter. Algert Global LLC now owns 142,155 shares of the company’s stock valued at $1,889,000 after buying an additional 8,807 shares during the period. Driehaus Capital Management LLC bought a new position in Magnite in the second quarter valued at about $9,938,000. Empirical Capital Management LLC purchased a new position in Magnite in the second quarter valued at about $279,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Magnite in the second quarter valued at about $1,820,000. Institutional investors and hedge funds own 73.40% of the company’s shares.

Analysts set new price targets

A number of analysts have recently issued reports on the stock. Susquehanna restated a “positive” rating and set a $14.00 target price on shares of Magnite in a research report on Thursday, May 16th. Benchmark restated a “buy” rating and set a $21.00 price objective on shares of Magnite in a report on Tuesday. Royal Bank of Canada upped their target price on Magnite from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Wolfe Research initiated coverage on Magnite in a report on Tuesday, July 16th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Evercore ISI boosted their price target on Magnite from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Ten analysts have rated the stock with a buy rating. The company has an average rating of “Buy” and a consensus price target of $17.25, based on data from MarketBeat.com.

Check out the latest stock analysis on Magnite

About Magnite

(Get a free report)

Magnite, Inc, together with its subsidiaries, operates an independent, omnichannel, sell-side advertising platform in the United States and internationally. The Company’s platform provides applications and services for sellers of digital advertising inventory or for publishers who 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 platforms to buy digital advertising inventory, and an independent marketplace that connects buyers and sellers.

Further reading

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