Larson Financial Group LLC Has $58,000 Stake in Magnite, Inc. (NASDAQ:MGNI)

Larson Financial Group LLC lifted its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 179.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,647 shares of the company’s stock after purchasing an additional 2,341 shares during the quarter. Larson Financial Group LLC’s holdings in Magnite were worth $58,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Magnite during the fourth quarter worth about $25,000. Quarry LP raised its holdings in Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Magnite by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV raised its holdings in Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after acquiring an additional 2,374 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Magnite by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 9,886 shares of the company’s stock worth $157,000 after acquiring an additional 2,968 shares in the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MGNI. Needham & Company LLC reiterated a “buy” rating and set a $20.00 target price on shares of Magnite in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Magnite in a report on Monday. Wells Fargo & Company upped their price objective on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Scotiabank initiated coverage on Magnite in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Finally, Wolfe Research increased their price target on Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

Magnite Trading Up 5.0 %

Shares of MGNI stock opened at $13.04 on Thursday. The stock’s fifty day moving average price is $16.86 and its two-hundred day moving average price is $15.25. The company has a market cap of $1.86 billion, a PE ratio of 217.33, a P/E/G ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $21.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $183.90 million. Equities analysts predict that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In other news, CTO David Buonasera sold 1,969 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $16.31, for a total value of $32,114.39. Following the completion of the transaction, the chief technology officer now directly owns 223,795 shares in the company, valued at approximately $3,650,096.45. This represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Lee Soroca sold 15,499 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.75, for a total value of $244,109.25. Following the completion of the transaction, the insider now owns 458,386 shares of the company’s stock, valued at $7,219,579.50. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,863 shares of company stock worth $5,169,262. Insiders own 4.30% of the company’s stock.

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.