Granahan Investment Management LLC Increases Position in Magnite, by 0.3% in 4th Quarter
June 17, 2023
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Magnite ($NASDAQ:MGNI), Inc. is a technology company that provides a unified sell-side platform for digital media. This is a significant move for the company, signifying further investment in the company and it’s future prospects. Their decision to increase their stake in Magnite, Inc. demonstrates their confidence in the company and its potential to bring long-term returns. Granahan’s decision to increase their stake is particularly noteworthy as the fourth quarter is usually considered a period of volatility in the markets and an uncertain time for investments.
The boost in Granahan Investment Management LLC’s stake in Magnite, Inc. serves as a vote of confidence in the company and its potential to deliver long-term returns. This move is also reflective of a broader trend of investors looking to capitalize on innovative digital media companies. Going forward, investors will be keeping a close eye on Magnite, Inc. and the potential it holds for delivering returns in the future.
Analysis
At GoodWhale, we recently conducted an analysis of MAGNITE‘s wellbeing. According to the Star Chart, MAGNITE is strong in growth, but weak in assets, dividend and profitability. We gave MAGNITE an intermediate health score of 6/10, taking into consideration its cashflows and debt. We believe that MAGNITE is likely to be able to pay off its debts and fund future operations. We classified MAGNITE as a ‘Cheetah’ type of company, which we concluded achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who may be interested in such a company may be those who are looking for high-growth stocks with higher risk and potential for returns. They may also be investors who are looking for opportunities to invest in companies that are likely to outperform in the long-term. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Magnite. More…
| Total Revenues | Net Income | Net Margin |
| 589.14 | -184.46 | -31.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Magnite. More…
| Operations | Investing | Financing |
| 140.03 | -41.3 | -65.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Magnite. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.43k | 1.72k | 5.21 |
Key Ratios Snapshot
Some of the financial key ratios for Magnite are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 54.3% | – | -26.6% |
| FCF Margin | ROE | ROA |
| 16.8% | -13.1% | -4.0% |
Peers
Headquartered in San Francisco, California, United States, the company was founded in 2006. Magnite is a leading independent technology platform for buyers and sellers of digital advertising. The company’s mission is to power the ecosystem of digital advertising with innovative technology that makes transactions more efficient, effective, and valuable for all participants. Magnite’s competitors include Direct Digital Holdings Inc, Integral Ad Science Holding Corp, and Quotient Technology Inc.
– Direct Digital Holdings Inc ($NASDAQ:DRCT)
As of 2022, Direct Digital Holdings Inc has a market cap of 8.19M and a Return on Equity of 49.62%. The company is a provider of digital direct-to-consumer products and services. Its products and services include online marketing, e-commerce, and software-as-a-service solutions. The company’s customers are located in the United States, Canada, Europe, Asia, Australia, and South America.
– Integral Ad Science Holding Corp ($NASDAQ:IAS)
Integral Ad Science Holding Corp. is a technology company that provides data and analytics to the global online advertising industry. The company’s technology platform enables its customers to optimize their advertising campaigns and to measure their return on investment. The company was founded in 2009 and is headquartered in New York, New York.
– Quotient Technology Inc ($NYSE:QUOT)
Quotient Technology Inc is a provider of digital coupons and advertising solutions. Its solutions enable marketers and retailers to connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns. Quotient Technology Inc has a market cap of 311.33M as of 2022, a Return on Equity of -22.8%. The company’s solutions help marketers and retailers connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns.
Summary
Investors in Magnite, Inc. had a successful fourth quarter, according to Granahan Investment Management LLC, which reported that its position in the company increased by 0.3%. This suggests that the stock is performing well, and may be considered an attractive buying opportunity for those looking to add to their investments. Magnite offers a variety of solutions for programmatic advertising, and its performance in the fourth quarter indicates that it is likely to remain a leader in the industry. While there is risk associated with any investment, the performance of Magnite suggests that it may be a wise addition for those looking to diversify their portfolios.
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