We use high-resolution angle-resolved photoemission spectroscopy (ARPES) and density functional theory (DFT) calculations to study the electronic and magnetic properties of La2Ni7, an itinerant magnetic system with a series of three magnetic transition temperatures upon cooling, which end in a small moment antiferromagnetic (smAFM) ground state. Our APRES data reveal several electron and hole pockets that have hexagonal symmetry near the $\Gamma$ point. We observe significant reconstruction of the band structure upon successive magnetic transitions at T1=61 K, T2= 57 K and T3=42 K. Several features observed in ARPES data were reasonably well reproduced by DFT calculations, while others were not. In particular, the flat band near $Ef predicted by DFT in AFM state, was seemingly absent in ARPES data. Our results detail the effects of magnetic ordering on the electronic structure in a Ni-based small moment antiferromagnet and highlight challenges of current computational methods.