Magnite, Inc. (NASDAQ:MGNI) CAO Sells $32,340.00 in Stock

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 2,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.00, for a total value of $32,340.00. Following the sale, the chief accounting officer now owns 116,982 shares of the company’s stock, valued at approximately $1,754,730. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Magnite Price Performance

NASDAQ MGNI opened at $15.85 on Friday. The stock’s fifty day moving average price is $13.08 and its 200 day moving average price is $12.92. Magnite, Inc. has a 1 year low of $7.61 and a 1 year high of $17.00. 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 company has a market cap of $2.23 billion, a price-to-earnings ratio of 264.17, a PEG ratio of 1.56 and a beta of 2.43.

Wall Street Analyst Weigh In

MGNI has been the subject of a number of analyst reports. Macquarie restated an “outperform” rating and set a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Craig Hallum restated a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and set a $21.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. Wells Fargo & Company assumed coverage on shares of Magnite in a research note on Monday, October 28th. They issued an “equal weight” rating and a $13.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Magnite in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Institutional Trading of Magnite

Several institutional investors and hedge funds have recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its holdings in Magnite by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after purchasing an additional 892 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Magnite by 4.6% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock valued at $336,000 after buying an additional 1,068 shares during the period. Arizona State Retirement System boosted its stake in shares of Magnite by 3.4% in the second quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock worth $469,000 after buying an additional 1,160 shares during the last quarter. UMB Bank n.a. grew its holdings 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 acquiring an additional 1,188 shares during the period. Finally, Fulton Bank N.A. raised its position in Magnite by 6.4% during the third quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock valued at $392,000 after acquiring an additional 1,696 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

About Magnite

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.