Maestria Partners LLC Has $22.13 Million Holdings in Magnite, Inc. $MGNI

Maestria Partners LLC increased its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,363,505 shares of the company’s stock after buying an additional 222,334 shares during the quarter. Magnite accounts for 6.5% of Maestria Partners LLC’s investment portfolio, making the stock its 7th largest holding. Maestria Partners LLC owned 0.95% of Magnite worth $22,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in Magnite by 20.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,387 shares of the company’s stock worth $82,000 after buying an additional 577 shares in the last quarter. US Bancorp DE grew its holdings in Magnite by 75.8% during the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $35,000 after buying an additional 688 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Magnite by 45.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock worth $53,000 after buying an additional 755 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Magnite by 2.4% during the third quarter. CANADA LIFE ASSURANCE Co now owns 44,552 shares of the company’s stock worth $992,000 after buying an additional 1,047 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Magnite during the third quarter worth $27,000. Institutional investors own 73.40% of the company’s stock.

Magnite Stock Up 8.1%

MGNI stock opened at $15.81 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.69 and a beta of 2.32. Magnite, Inc. has a fifty-two week low of $10.82 and a fifty-two week high of $26.65. The stock has a fifty day moving average of $13.24 and a 200-day moving average of $13.83.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $164.37 million during the quarter, compared to the consensus estimate of $159.24 million. Magnite had a return on equity of 8.40% and a net margin of 21.96%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, equities research analysts predict that Magnite, Inc. will post 0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Scotiabank upped their price target on Magnite from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Magnite in a report on Thursday, May 28th. Wells Fargo & Company upped their price target on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $39.00 price objective on shares of Magnite in a research note on Thursday, February 26th. Finally, Benchmark reduced their price objective on Magnite from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.89.

Insider Buying and Selling at Magnite

In other news, Director Robert F. Spillane sold 10,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $13.33, for a total transaction of $133,300.00. Following the completion of the transaction, the director owned 43,917 shares in the company, valued at approximately $585,413.61. This represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Magnite Company Profile

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).