Lisanti Capital Growth LLC Has $3.76 Million Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

Lisanti Capital Growth LLC cut its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 0.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 282,845 shares of the company’s stock after selling 2,085 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Magnite were worth $3,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Magnite by 1.3% during the first quarter. Vanguard Group Inc. now owns 12,818,197 shares of the company’s stock valued at $137,796,000 after purchasing an additional 166,522 shares in the last quarter. Wellington Management Group LLP increased its position in Magnite by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 2,939,541 shares of the company’s stock valued at $27,455,000 after acquiring an additional 52,129 shares during the period. Burgundy Asset Management Ltd. increased its position in Magnite by 1.1% in the 1st quarter. Burgundy Asset Management Ltd. now owns 2,457,031 shares of the company’s stock valued at $26,413,000 after acquiring an additional 25,921 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Magnite by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 975,662 shares of the company’s stock valued at $9,113,000 after acquiring an additional 16,062 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Magnite during the fourth quarter worth $8,164,000. Institutional investors own 73.40% of the company’s stock.

Insider Buying and Selling at Magnite

In related news, insider Aaron Saltz sold 4,778 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $13.65, for a total value of $65,219.70. Following the sale, the insider now owns 317,010 shares in the company, valued at approximately $4,327,186.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Magnite news, insider Aaron Saltz sold 4,778 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $13.65, for a total transaction of $65,219.70. Following the completion of the sale, the insider now directly owns 317,010 shares of the company’s stock, valued at approximately $4,327,186.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael G. Barrett sold 100,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 336,733 shares of company stock valued at $4,678,514. Corporate insiders own 4.30% of the company’s stock.

Magnite Stock Performance

Shares of MGNI stock traded up $0.15 on Friday, reaching $13.79. 923,748 shares of the company were exchanged, compared to its average volume of 1,764,154. Magnite, Inc. has a one year low of $6.28 and a one year high of $15.92. The company has a 50-day moving average of $13.70 and a 200-day moving average of $11.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.10 and a quick ratio of 1.10.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $144.04 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Magnite, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MGNI. Susquehanna reaffirmed a “positive” rating and set a $14.00 target price on shares of Magnite in a research report on Thursday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Magnite in a research note on Tuesday, July 9th. Royal Bank of Canada upped their target price on Magnite from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, June 5th. Evercore ISI raised their price target on shares of Magnite from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Magnite has a consensus rating of “Buy” and an average price target of $17.25.

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.