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Magnite Inc Stock Research

MGNI

9.10USD+0.10(+1.11%)Delayedas of 29 Mar 2023, 11:24 am

Market Summary

USD9.10+0.10
Delayedas of 29 Mar 2023, 11:24 am
1.11%

MGNI Alerts

MGNI Stock Price

MGNI RSI Chart

MGNI Valuation

Market Cap

1.2B

Price/Earnings (Trailing)

-9.25

Price/Sales (Trailing)

2.09

EV/EBITDA

17.19

Price/Free Cashflow

7.46

MGNI Price/Sales (Trailing)

MGNI Profitability

Operating Margin

46.77%

EBT Margin

-23.50%

Return on Equity

-16.47%

Return on Assets

-4.81%

Free Cashflow Yield

13.41%

MGNI Fundamentals

MGNI Revenue

Revenue (TTM)

577.1M

Revenue Y/Y

8.75%

Revenue Q/Q

20.29%

MGNI Earnings

Earnings (TTM)

-130.3M

Earnings Y/Y

-8.1K%

Earnings Q/Q

-49.17%

Price Action

52 Week Range

5.5914.68
(Low)(High)

Last 7 days

-5.1%

Last 30 days

-18.3%

Last 90 days

-11.5%

Trailing 12 Months

-34.9%

MGNI Financial Health

Current Ratio

1.18

Debt/Equity

0.92

Debt/Cashflow

0.22

MGNI Investor Care

Shares Dilution (1Y)

1.36%

Diluted EPS (TTM)

-0.98

Peers (Alternatives to Magnite)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
995.9B
514.0B
4.00% -42.46%
-365.88
1.94
9.40% -108.16%
100.7B
17.1B
3.78% 11.78%
32.93
5.89
55.96% 162.49%
60.1B
10.5B
3.45% -2.32%
124.78
5.71
49.06% 480.72%
23.1B
9.8B
-4.88% -26.74%
-18.21
2.36
-6.00% -109.33%
13.1B
2.6B
-15.35% -24.17%
-18.92
5.12
11.73% -479.56%
MID-CAP
2.6B
827.8M
-3.54% -24.71%
33.61
3.09
7.04% -17.17%
SMALL-CAP
1.9B
1.1B
2.21% -52.96%
32.89
1.75
23.56% -41.21%
1.2B
577.1M
-18.33% -34.88%
-9.25
2.09
23.20% -200596.92%
532.6M
1.8B
-0.21% -55.24%
-1.8
0.29
-16.43% -882.41%
459.5M
285.6M
1.67% -31.33%
11.29
1.61
6.38% -18.68%
304.0M
364.5M
-13.46% -54.15%
-3.62
0.83
-29.59% -31.65%
108.5M
674.1M
-50.00% -81.83%
-0.71
0.16
-37.99% -248.09%
95.3M
1.9B
-33.52% -83.00%
2.03
0.05
240.28% 230.65%

Financials for Magnite

Income Statement (Last 12 Months)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue2.5%577,069,000562,956,000549,012,000525,773,000468,413,000
  S&GA Expenses-1.9%200,081,000203,959,000206,371,000197,817,000170,406,000
  R&D Expenses1.7%93,757,00092,227,00088,152,00083,226,00074,449,000
EBITDA-16.2%51,195,00061,072,00058,694,00024,576,000-
EBITDA Margin-18.2%0.090.110.110.05-
Earnings Before Taxes-37.2%-135,597,000-98,845,000-103,046,000-128,875,000-94,988,000
EBT Margin-33.8%-0.23-0.18-0.19-0.25-
Interest Expenses-2.6%-29,260,000-28,526,000-28,790,000-26,816,000-19,848,000
Net Income-39.4%-130,323,000-93,485,000-93,413,000-31,651,00065,000
Net Income Margin-36.0%-0.23-0.17-0.17-0.06-
Free Cahsflow7.3%161,735,000150,718,000147,719,000125,883,000-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets7.2%2,7122,5292,6222,5222,713
  Current Assets22.9%1,3261,0791,1421,0101,178
    Cash Equivalents28.7%326254233205230
  Net PPE19.0%45.0038.0035.0034.00-
  Goodwill0.0%978978978978970
Liabilities11.8%1,9211,7191,8011,6851,832
  Current Liabilities22.4%1,1259191,0028871,029
    LT Debt, Current0%4.004.004.004.00-
    LT Debt, Non Current0.1%723722721721720
Shareholder's Equity-2.4%791811821838881
  Retained Earnings-7.5%-524-488-464-439-394
  Additional Paid-In Capital1.2%1,3191,3041,2891,2781,283
Shares Outstanding0.5%134133133132132
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations11.7%193172163149127
  Share Based Compensation2.7%64.0062.0057.0050.0041.00
Cashflow From Investing0.3%-65.15-65.36-87.65-719-691
Cashflow From Financing22.9%-30.17-39.13-33.80306678
  Buy Backs160.7%16.006.006.006.006.00

Risks for MGNI

What is the probability of a big loss on MGNI?

100%


Probability that Magnite stock will be more than 20% underwater in next one year

92.7%


Probability that Magnite stock will be more than 30% underwater in next one year.

68.1%


Probability that Magnite stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does MGNI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Magnite was unfortunately bought at previous high price.

Drawdowns

Returns for MGNI

Cumulative Returns on MGNI

-9.4%


7-Year Cumulative Returns

38.0%


5-Year Cumulative Returns

14.5%


3-Year Cumulative Returns

What are the long-term rolling returns for MGNI?

FIve years rolling returns for Magnite.

Annualized Returns

Which funds bought or sold MGNI recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-23
MetLife Investment Management, LLC
unchanged
-
280,154
738,017
0.01%
2023-03-17
American Portfolios Advisors
reduced
-16.39
-5,165
8,377
-%
2023-03-15
B. Riley Wealth Advisors, Inc.
reduced
-12.51
58,503
204,503
0.01%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
9,584
13,228,200
13,313,200
0.01%
2023-03-06
Rockefeller Capital Management L.P.
added
43.12
18,000
31,000
-%
2023-02-28
Voya Investment Management LLC
reduced
-82.05
-1,310,300
533,704
-%
2023-02-27
Parallax Volatility Advisers, L.P.
reduced
-20.26
3,620,000
16,305,000
0.03%
2023-02-21
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO
unchanged
-
11,770
31,770
-%
2023-02-21
MACQUARIE GROUP LTD
sold off
-100
-30,000
-
-%
2023-02-21
Empowered Funds, LLC
reduced
-23.64
78,391
420,391
0.03%

1–10 of 37

Latest Funds Activity

Are funds buying MGNI calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own MGNI
No. of Funds

Magnite News

Yahoo Finance

Investing in Magnite (NASDAQ:MGNI) five years ago would have delivered you a 406% gain.

Yahoo Finance,
4 hours ago

The Motley Fool

The Motley Fool

Magnite Stock: Bear vs. Bull.

The Motley Fool,
29 days ago

StreetInsider.com

InvestorsObserver

InvestorPlace

Schedule 13G FIlings of Magnite

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 14, 2023
granahan investment management, llc
7.81%
10,419,013
SC 13G/A
Feb 09, 2023
vanguard group inc
9.32%
12,436,899
SC 13G/A
Feb 09, 2023
fmr llc
-
0
SC 13G/A
Feb 01, 2023
blackrock inc.
6.7%
8,905,372
SC 13G/A
Nov 10, 2022
edenbrook capital, llc
5.17%
6,893,079
SC 13D
Feb 14, 2022
granahan investment management, llc
6.44%
8,482,357
SC 13G
Feb 09, 2022
fmr llc
-
0
SC 13G
Feb 03, 2022
blackrock inc.
6.3%
8,309,705
SC 13G/A
May 21, 2021
rtl group gmbh
9.6%
0
SC 13G/A
May 10, 2021
bertelsmann se & co. kgaa
9.6%
12,374,315
SC 13G

MGNI Fair Value

Magnite fair value in different scenarios

The table shows the Fair Value estimates for Magnite for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

1.30

-85.71%

1.77

-80.55%

3.30

-63.74%

9.61

5.60%

18.66

105.05%
Current Inflation

1.28

-85.93%

1.71

-81.21%

3.07

-66.26%

8.54

-6.15%

16.32

79.34%
Very High Inflation

1.25

-86.26%

1.63

-82.09%

2.78

-69.45%

7.28

-20.00%

13.58

49.23%

Historical Magnite Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of Magnite

View All Filings
Date Filed Form Type Document
Mar 17, 2023
4
Insider Trading
Mar 03, 2023
4
Insider Trading
Mar 02, 2023
3
Insider Trading
Mar 02, 2023
4
Insider Trading
Feb 22, 2023
10-K
Annual Report
Feb 22, 2023
8-K
Current Report
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading

Latest Insider Trading transactions for MGNI

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-03-15
BARRETT MICHAEL G.
sold
-629,250
8.39
-75,000
ceo
2023-03-01
Evans Katie Seitz
sold
-858,923
10.99
-78,155
chief operating officer
2023-02-28
Buonasera David
acquired
-
-
46,873
chief technology officer
2023-02-15
Evans Katie Seitz
sold (taxes)
-213,209
13.27
-16,067
chief operating officer
2023-02-15
Gephart Brian
sold (taxes)
-51,089
13.27
-3,850
chief accounting officer
2023-02-15
BARRETT MICHAEL G.
sold (taxes)
-234,587
13.27
-17,678
ceo
2023-02-15
Day David
sold (taxes)
-235,397
13.27
-17,739
chief financial officer
2023-02-15
Saltz Aaron
sold (taxes)
-80,031
13.27
-6,031
chief legal officer
2023-02-15
Soroca Adam Lee
sold (taxes)
-197,988
13.27
-14,920
chief product officer
2023-02-15
Buckley Sean Patrick
sold (taxes)
-204,371
13.27
-15,401
chief revenue officer

1–10 of 50

Michael G. Barrett
880
Magnite, Inc. operates an independent 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 provides applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory. It markets its technology solutions to buyers and sellers through a sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in New York, New York.

MGNI Income Statement

2022-12-31
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]   
Revenue$ 577,069$ 468,413$ 221,628
Expenses:   
Cost of revenue307,165201,66277,747
Sales and marketing200,081170,40676,030
Technology and development93,75774,44951,546
General and administrative81,38264,78952,987
Merger, acquisition, and restructuring costs7,46838,17717,552
Total expenses689,853549,483275,862
Loss from operations(112,784)(81,070)(54,234)
Other (income) expense:   
Interest (income) expense, net29,26019,848(50)
Other income(5,318)(4,450)(3,665)
Foreign exchange (gain) loss, net(1,129)(1,480)2,220
Total other (income) expense, net22,81313,918(1,495)
Loss before income taxes(135,597)(94,988)(52,739)
Provision (benefit) for income taxes(5,274)(95,053)693
Net income (loss)$ (130,323)$ 65$ (53,432)
Net income (loss) per share:   
Basic (in USD per share)$ (0.98)$ 0$ (0.55)
Diluted (in USD per share)$ (0.98)$ 0$ (0.55)
Weighted average shares used to compute net income (loss) per share:   
Basic (in shares)132,887126,29496,700
Diluted (in shares)132,887136,26196,700

MGNI Balance Sheet

2022-12-31
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:  
   Cash and cash equivalents$ 326,254$ 230,401
   Accounts receivable, net976,506927,781
   Prepaid expenses and other current assets             23,50119,934
TOTAL CURRENT ASSETS1,326,2611,178,116
Property and equipment, net44,96934,067
Right of use lease asset78,21176,986
Internal use software development costs, net23,67120,093
Intangible assets, net253,501426,615
Goodwill978,217969,873
Other assets, non-current7,3836,862
TOTAL ASSETS2,712,2132,712,612
Current liabilities:  
Accounts payable and accrued expenses1,094,3211,000,956
Lease liabilities - current portion21,17219,142
Debt, current3,6003,600
Other current liabilities5,9395,697
TOTAL CURRENT LIABILITIES1,125,0321,029,395
Debt, non-current, net of debt issuance costs722,757720,023
Lease liabilities, non-current66,33166,487
Deferred tax liability, net5,07213,303
Other liabilities, non-current1,7232,647
TOTAL LIABILITIES1,920,9151,831,855
Commitments and contingencies (Note 16)
STOCKHOLDERS' EQUITY  
Preferred stock, $0.00001 par value, 10,000 shares authorized at December 31, 2022 and December 31, 2021; 0 shares issued and outstanding at December 31, 2022 and December 31, 202100
Common stock, $0.00001 par value; 500,000 shares authorized; 134,006 and 132,553 shares issued at December 31, 2022 and December 31, 2021, respectively, and 134,006 and 132,204 shares outstanding at December 31, 2022 and December 31, 2021, respectively22
Additional paid-in capital1,319,2211,282,589
Accumulated other comprehensive loss(3,151)(1,376)
Treasury stock at cost, 0 and 349 shares outstanding at December 31, 2022 and December 31, 2021, respectively0(6,007)
Accumulated deficit(524,774)(394,451)
TOTAL STOCKHOLDERS' EQUITY791,298880,757
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$ 2,712,213$ 2,712,612