Magnite, Inc. (NASDAQ:MGNI) CEO Michael G. Barrett sold 75,000 shares of the firm’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $39.88, for a total value of $2,991,000.00. Following the transaction, the chief executive officer now owns 1,549,896 shares in the company, valued at approximately $61,809,852.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ:MGNI opened at $39.76 on Thursday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -65.18 and a beta of 2.45. Magnite, Inc. has a 12 month low of $4.60 and a 12 month high of $64.39. The company’s fifty day simple moving average is $46.93 and its 200 day simple moving average is $28.27.
Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, February 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.08. Magnite had a negative return on equity of 9.19% and a negative net margin of 30.72%. Equities analysts predict that Magnite, Inc. will post -0.21 earnings per share for the current year.
MGNI has been the topic of a number of analyst reports. Needham & Company LLC increased their price target on shares of Magnite from $30.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 9th. Evercore ISI started coverage on shares of Magnite in a report on Monday. They issued an “in-line” rating and a $44.00 target price on the stock. TheStreet raised shares of Magnite from a “d” rating to a “c-” rating in a report on Friday, December 11th. Truist cut shares of Magnite from a “buy” rating to a “hold” rating and upped their price objective for the company from $12.00 to $37.00 in a research report on Monday, January 25th. Finally, Craig Hallum lifted their target price on Magnite from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Magnite presently has an average rating of “Buy” and a consensus price target of $41.63.
Magnite, Inc provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D.
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