Sean Patrick Buckley Sells 19,607 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley sold 19,607 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $14.50, for a total value of $284,301.50. Following the transaction, the executive now directly owns 363,615 shares in the company, valued at approximately $5,272,417.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sean Patrick Buckley also recently made the following trade(s):

• On Friday, May 24th, Sean Patrick Buckley sold 2,682 shares of Magnite stock. The stock was sold at an average price of $12.50, for a total value of $33,525.00.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $14.94 on Friday. Magnite, Inc. has a 12-month low of $6.28 and a 12-month high of $15.92. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average price of $12.99 and a 200 day moving average price of $10.88.

Magnite (NASDAQ:MGNI) last announced its earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. The company had revenue of $130.55 million during the quarter, compared to the consensus estimate of $123.77 million. Magnite had a positive return on equity of 3.23% and a negative net margin of 12.24%. On average, analysts expect that Magnite, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGNI has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Magnite from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Susquehanna restated a “positive” rating and set a $14.00 price objective on shares of Magnite in a report on Thursday, May 16th. Wolfe Research initiated coverage on Magnite in a report on Tuesday. They set an “outperform” rating and a $16.00 price objective for the company. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Magnite in a report on Monday, June 17th. Finally, Evercore ISI upped their price objective on Magnite from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.68.

Institutional Trading of Magnite

Large investors have recently modified their holdings of the business. Cape Investment Advisory Inc. acquired a new stake in shares of Magnite during the fourth quarter valued at about $25,000. Blue Trust Inc. acquired a new stake in shares of Magnite during the second quarter valued at about $56,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Magnite during the first quarter valued at about $108,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Magnite during the fourth quarter valued at about $99,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Magnite during the fourth quarter valued at about $103,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.