Mount Yale Investment Advisors LLC Has $404,000 Holdings in Magnite, Inc. (NASDAQ:MGNI)

Mount Yale Investment Advisors LLC raised its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,377 shares of the company’s stock after buying an additional 1,148 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Magnite were worth $404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGNI. Verdence Capital Advisors LLC raised its stake in shares of Magnite by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after acquiring an additional 892 shares in the last quarter. Fulton Bank N.A. grew its holdings in Magnite by 6.4% during the third quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock valued at $392,000 after purchasing an additional 1,696 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Magnite by 8.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,449 shares of the company’s stock valued at $408,000 after purchasing an additional 2,298 shares during the period. KBC Group NV raised its position in shares of Magnite by 66.5% in the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock valued at $95,000 after purchasing an additional 2,374 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Magnite by 87.0% in the third quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after buying an additional 3,689 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Transactions at Magnite

In related news, insider Aaron Saltz sold 5,112 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.50, for a total transaction of $69,012.00. Following the transaction, the insider now owns 307,745 shares in the company, valued at $4,154,557.50. This represents a 1.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Gephart sold 2,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $15.00, for a total transaction of $32,340.00. Following the sale, the chief accounting officer now directly owns 116,982 shares in the company, valued at approximately $1,754,730. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,097 shares of company stock valued at $6,165,147 in the last three months. 4.30% of the stock is owned by corporate insiders.

Magnite Stock Performance

Magnite stock opened at $17.65 on Wednesday. The firm has a market capitalization of $2.48 billion, a P/E ratio of 294.17, a P/E/G ratio of 0.84 and a beta of 2.51. The stock has a fifty day moving average price of $16.46 and a two-hundred day moving average price of $14.49. Magnite, Inc. has a 52-week low of $8.38 and a 52-week 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.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.09). The firm 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 period in the prior year, the business earned $0.02 earnings per share. As a group, analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Macquarie reissued an “outperform” rating and issued a $18.00 price target on shares of Magnite in a report on Friday, November 8th. Scotiabank initiated coverage on shares of Magnite in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Magnite in a research report on Friday, January 17th. Finally, Wolfe Research upped their price target on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.35.

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.