On February 23, 2023 at 13:34:46 (ET) an unusually large $408.46K block of Put contracts in Magnite (MGNI) was sold, with a strike price of $12.50 / share, expiring in 22 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.13 sigmas above the mean, placing it in the 99.92 percentile of all recent large trades made in MGNI options.
Analyst Price Forecast Suggests 6.52% Upside
As of February 23, 2023, the average one-year price target for Magnite is $14.43. The forecasts range from a low of $11.11 to a high of $17.85. The average price target represents an increase of 6.52% from its latest reported closing price of $13.55.
The projected annual revenue for Magnite is $569MM, a decrease of 1.34%. The projected annual EPS is $0.79.
What is the Fund Sentiment?
There are 463 funds or institutions reporting positions in Magnite. This is an increase of 8 owner(s) or 1.76% in the last quarter. Average portfolio weight of all funds dedicated to MGNI is 0.21%, a decrease of 0.55%. Total shares owned by institutions decreased in the last three months by 7.26% to 109,252K shares. The put/call ratio of MGNI is 0.99, indicating a bullish outlook.
What are large shareholders doing?
Granahan Investment Management holds 10,454K shares representing 7.84% ownership of the company. In it’s prior filing, the firm reported owning 10,418K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in MGNI by 51.47% over the last quarter.
Edenbrook Capital holds 6,893K shares representing 5.17% ownership of the company. In it’s prior filing, the firm reported owning 5,793K shares, representing an increase of 15.96%. The firm decreased its portfolio allocation in MGNI by 99.87% over the last quarter.
FAGAX – Fidelity Advisor Growth Opportunities Fund holds 4,922K shares representing 3.69% ownership of the company. In it’s prior filing, the firm reported owning 4,643K shares, representing an increase of 5.65%. The firm increased its portfolio allocation in MGNI by 67.76% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,654K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 3,674K shares, representing a decrease of 0.54%. The firm decreased its portfolio allocation in MGNI by 23.29% over the last quarter.
Bank of New York Mellon holds 3,485K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 2,966K shares, representing an increase of 14.91%. The firm decreased its portfolio allocation in MGNI by 67.95% over the last quarter.
Magnite Background Information
(This description is provided by the company.)
Magnite is the world’s largest independent sell-side advertising platform that combines Rubicon Project’s programmatic expertise with Telaria’s leadership in CTV. Publishers use its technology to monetize their content across all screens and formats-including desktop, mobile, audio and CTV. And the world’s leading agencies and brands trust its platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.
This article originally appeared on Fintel
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