Boston Partners Has $76.06 Million Holdings in Magnite, Inc. (NASDAQ:MGNI)

Boston Partners boosted its position in Magnite, Inc. (NASDAQ:MGNI) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,756,323 shares of the company’s stock after buying an additional 1,336,458 shares during the quarter. Boston Partners owned approximately 3.38% of Magnite worth $76,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGNI. Wellington Management Group LLP grew its position in Magnite by 125.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after purchasing an additional 3,659,759 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in Magnite in the 3rd quarter worth $23,917,000. Stephens Investment Management Group LLC grew its position in Magnite by 146.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 996,644 shares of the company’s stock worth $15,867,000 after purchasing an additional 592,853 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Magnite in the 4th quarter worth $8,685,000. Finally, First Eagle Investment Management LLC acquired a new stake in Magnite in the 4th quarter worth $5,845,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Magnite news, Director James Rossman sold 149,936 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $19.46, for a total value of $2,917,754.56. Following the completion of the transaction, the director now directly owns 219,920 shares of the company’s stock, valued at approximately $4,279,643.20. The trade was a 40.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Lee Soroca sold 15,499 shares of Magnite stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.75, for a total transaction of $244,109.25. Following the sale, the insider now owns 458,386 shares of the company’s stock, valued at approximately $7,219,579.50. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,250 shares of company stock valued at $4,945,720. Insiders own 4.30% of the company’s stock.

Magnite Trading Up 5.3 %

Shares of MGNI stock opened at $13.37 on Thursday. Magnite, Inc. has a 12-month low of $8.38 and a 12-month high of $21.29. The company has a market capitalization of $1.91 billion, a P/E ratio of 222.83, a P/E/G ratio of 1.00 and a beta of 2.79. The firm has a 50-day moving average price of $16.47 and a 200 day moving average price of $15.21. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.14). Magnite had a net margin of 2.62% and a return on equity of 4.64%. The firm had revenue of $180.20 million for the quarter, compared to the consensus estimate of $183.90 million. Research analysts forecast that Magnite, Inc. will post 0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MGNI. Susquehanna raised their price target on shares of Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Monday, March 10th. Royal Bank of Canada raised their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Scotiabank started coverage on shares of Magnite in a report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Magnite in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Magnite has an average rating of “Moderate Buy” and an average target price of $19.27.

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.