Nomura Asset Management Co. Ltd. Has $29.83 Million Stake in Magnite, Inc. (NASDAQ:MGNI)

Nomura Asset Management Co. Ltd. grew its holdings in Magnite, Inc. (NASDAQ:MGNI) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,873,835 shares of the company’s stock after acquiring an additional 146,974 shares during the quarter. Nomura Asset Management Co. Ltd. owned 1.33% of Magnite worth $29,831,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Magnite during the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its position in shares of Magnite by 179.2% during the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock worth $58,000 after acquiring an additional 2,341 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Magnite during the fourth quarter worth $87,000. Quarry LP lifted its position in Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after acquiring an additional 4,508 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Magnite by 20.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock worth $93,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $11.60 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average price is $16.08 and its two-hundred day moving average price is $15.19. The company has a market cap of $1.66 billion, a PE ratio of 193.33, a price-to-earnings-growth ratio of 1.00 and a beta of 2.79. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29.

Magnite (NASDAQ:MGNI) last posted its earnings results on Wednesday, February 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $180.20 million for the quarter, compared to analyst estimates of $183.90 million. On average, analysts predict that Magnite, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

MGNI has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Magnite in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Magnite in a research report on Thursday, February 27th. Royal Bank of Canada lifted their price objective on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Susquehanna lifted their price target on shares of Magnite from $16.00 to $22.00 and gave the company a “positive” rating in a research note on Thursday, February 27th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.27.

Insider Activity

In other Magnite news, CAO Brian Gephart sold 6,250 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $16.00, for a total value of $100,000.00. Following the transaction, the chief accounting officer now directly owns 132,909 shares of the company’s stock, valued at $2,126,544. This represents a 4.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Caine sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the sale, the director now owns 182,837 shares of the company’s stock, valued at $3,720,732.95. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,250 shares of company stock valued at $4,945,720 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Magnite 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.