The cluster of open-market sales by the CLO and two directors without 10b5-1 plans is a bearish signal. Monitor for upcoming earnings or material news that could explain the timing; the next 10-Q filing will be key.
Price Chart
Executive Summary
Three MGNI insiders, including the Chief Legal Officer and two directors, sold a total of $1.64M in open-market sales over a 5-day window. The sales are modest relative to market cap and may be routine diversification, but the concentration of sales by senior insiders warrants attention.
Key Financial Metrics
Key Facts
- Total insider sales: $1.64M across 3 insiders
- Chief Legal Officer Aaron Saltz sold $936K (57% of total)
- Director Paul Caine sold $118K
- Director Robert F. Spillane sold $246K
- All sales are open-market (code S) with no 10b5-1 plan indicated
- Sales represent ~0.5% of MGNI's $326M market cap
Financial Impact
Insider sales of $1.64M represent ~0.5% of market cap, a modest but notable signal given the concentration in senior insiders.
Risk Factors
- Insiders may be selling for personal liquidity reasons unrelated to company outlook
- No 10b5-1 plans disclosed, but sales could still be pre-arranged
- Market cap is small ($326M), so even modest sales can appear material
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MGNI-1789620491083 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 8-K | $25.45 | awaiting T+20 | — | $21.82 (−14.26%) |
Sep 21, 2026 5w ago | 8-K | $24.80 $23.81 | ▼ −3.99% | ▼ −3.43% | $21.82 (−12.02%) |
Sep 18, 2026 5w ago | Insider Cluster | $25.31 $23.55 | ▲ +6.95% | ▲ +6.05% | $21.82 (+13.79%) |
Sep 17, 2026 5w ago | 144 | $25.15 $23.37 | ▼ −7.08% | ▼ −7.28% | $21.82 (−13.24%) |
Sep 17, 2026 5w ago | 144 | $25.15 $23.37 | ▼ −7.08% | ▼ −7.28% | $21.82 (−13.24%) |
Sep 16, 2026 5w ago | Insider Cluster | $25.63 $24.48 | ▲ +4.49% | ▲ +5.94% | $21.82 (+14.87%) |
Sep 11, 2026 6w ago | Insider Cluster | $23.84 $25.08 | ▲ +5.20% | ▲ +2.68% | $21.82 (−8.47%) |
Sep 10, 2026 6w ago | Insider Cluster | $23.77 $25.40 | ▲ +6.86% | ▲ +4.74% | $21.82 (−8.20%) |
Sep 10, 2026 6w ago | Press Release | $23.55 $25.45 | ▲ +8.07% | ▲ +5.94% | $21.82 (−7.35%) |
Sep 3, 2026 7w ago | Insider Cluster | $24.14 $24.96 | ▲ +3.40% | ▲ +2.54% | $21.82 (−9.61%) |
US Market Status
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