Parametrica Management Ltd Makes New $177,000 Investment in Magnite, Inc. (NASDAQ:MGNI)

Parametrica Management Ltd acquired a new position in shares of Magnite, Inc. (NASDAQ:MGNI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,775 shares of the company’s stock, valued at approximately $177,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in Magnite by 111.8% during the second quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after buying an additional 1,188 shares during the period. Asset Dedication LLC bought a new position in shares of Magnite in the second quarter worth about $52,000. Blue Trust Inc. purchased a new position in Magnite in the 2nd quarter worth about $56,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Magnite by 973.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock valued at $58,000 after buying an additional 3,972 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Magnite in the 2nd quarter valued at about $93,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Magnite Trading Up 2.1 %

Shares of NASDAQ:MGNI traded up $0.35 during midday trading on Wednesday, reaching $16.65. 609,466 shares of the company’s stock were exchanged, compared to its average volume of 1,622,634. The firm’s 50 day simple moving average is $12.90 and its two-hundred day simple moving average is $12.82. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 271.67, a P/E/G ratio of 1.47 and a beta of 2.43. Magnite, Inc. has a fifty-two week low of $7.19 and a fifty-two week high of $16.66.

Insider Buying and Selling at Magnite

In other Magnite news, insider Aaron Saltz sold 5,112 shares of Magnite stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the transaction, the insider now directly owns 307,745 shares of the company’s stock, valued at $4,154,557.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Aaron Saltz sold 5,112 shares of Magnite stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the transaction, the insider now owns 307,745 shares in the company, valued at approximately $4,154,557.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael G. Barrett sold 75,000 shares of Magnite stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $12.63, for a total value of $947,250.00. Following the completion of the transaction, the chief executive officer now owns 944,552 shares of the company’s stock, valued at $11,929,691.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,645 shares of company stock valued at $1,275,215 in the last three months. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MGNI has been the subject of several research analyst reports. Lake Street Capital initiated coverage on shares of Magnite in a research note on Thursday, July 25th. They set a “buy” rating and a $21.00 price target for the company. Macquarie reiterated an “outperform” rating and issued a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of Magnite in a research note on Friday, September 27th. Bank of America upped their price objective on shares of Magnite from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company initiated coverage on shares of Magnite in a research report on Monday, October 28th. They set an “equal weight” rating and a $13.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and a consensus target price of $16.96.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel 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 applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.