Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley Sells 10,001 Shares

Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley sold 10,001 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $156,015.60. Following the sale, the executive now directly owns 303,743 shares of the company’s stock, valued at $4,738,390.80. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Magnite Trading Up 4.0 %

Shares of NASDAQ MGNI traded up $0.62 during mid-day trading on Tuesday, hitting $16.26. 1,833,615 shares of the company traded hands, compared to its average volume of 1,645,016. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a 1 year low of $7.74 and a 1 year high of $17.00. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 271.00, a PEG ratio of 1.48 and a beta of 2.43. The business has a 50 day moving average of $13.20 and a two-hundred day moving average of $13.07.

Institutional Trading of Magnite

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Magnite by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock worth $41,118,000 after acquiring an additional 63,545 shares in the last quarter. Barclays PLC grew its position in Magnite by 352.9% during the 3rd quarter. Barclays PLC now owns 210,598 shares of the company’s stock worth $2,917,000 after purchasing an additional 164,093 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in Magnite during the 3rd quarter valued at $23,917,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Magnite in the third quarter valued at $380,000. Finally, XTX Topco Ltd purchased a new position in shares of Magnite during the third quarter valued at $220,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on MGNI shares. Bank of America boosted their price objective on Magnite from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and set a $21.00 price target on shares of Magnite in a research report on Wednesday, October 2nd. Wells Fargo & Company assumed coverage on shares of Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price objective for the company. Macquarie reissued an “outperform” rating and set a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Magnite has an average rating of “Moderate Buy” and an average price target 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.