Magnite, Inc. (NASDAQ:MGNI) CFO David Day sold 11,779 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $9.50, for a total value of $111,900.50. Following the completion of the transaction, the chief financial officer now owns 311,624 shares in the company, valued at approximately $2,960,428. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of MGNI opened at $8.74 on Friday. The company has a fifty day simple moving average of $7.02. The firm has a market cap of $963.59 million, a P/E ratio of -13.87 and a beta of 1.56. Magnite, Inc. has a fifty-two week low of $4.09 and a fifty-two week high of $13.11.
Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $42.35 million during the quarter, compared to the consensus estimate of $37.69 million. Magnite had a negative return on equity of 16.03% and a negative net margin of 32.44%. As a group, analysts expect that Magnite, Inc. will post -0.43 EPS for the current year.
Several equities analysts recently issued reports on MGNI shares. Royal Bank of Canada began coverage on Magnite in a research report on Tuesday, September 29th. They issued an “outperform” rating and a $9.00 price target on the stock. Truist lifted their price objective on Magnite from $7.00 to $9.00 in a report on Friday, August 14th. BidaskClub raised Magnite from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Finally, Needham & Company LLC began coverage on Magnite in a report on Thursday, September 3rd. They issued a “buy” rating and a $10.00 price objective on the stock.
Magnite Company Profile
Magnite, Inc operates an independent sell-side advertising platform in the United States and internationally. Its omnichannel advertising platform enables publishers to monetize various auction types and formats, including CTV, desktop display, video, audio, and mobile, as well as allows agencies and brands to access brand-safe ad inventory and execute advertising transactions.
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