Magnite, Inc. (NASDAQ:MGNI) CAO Sells 2,156 Shares

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 2,156 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $15.60, for a total value of $33,633.60. Following the transaction, the chief accounting officer now directly owns 112,795 shares of the company’s stock, valued at approximately $1,759,602. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Brian Gephart also recently made the following trade(s):

• On Monday, November 11th, Brian Gephart sold 2,156 shares of Magnite stock. The stock was sold at an average price of $15.00, for a total transaction of $32,340.00.

Magnite Stock Performance

Shares of Magnite stock traded up $0.62 during trading on Tuesday, hitting $16.26. 1,833,615 shares of the company’s stock were exchanged, compared to its average volume of 1,645,016. Magnite, Inc. has a 52-week low of $7.74 and a 52-week high of $17.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. 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 simple moving average of $13.20 and a 200-day simple moving average of $13.07.

Institutional Investors Weigh In On Magnite

Several hedge funds have recently bought and sold shares of MGNI. New Century Financial Group LLC purchased a new stake in shares of Magnite during the 2nd quarter worth about $640,000. Commonwealth Equity Services LLC lifted its holdings in Magnite by 668.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 81,573 shares of the company’s stock valued at $1,084,000 after purchasing an additional 70,956 shares in the last quarter. Tidal Investments LLC boosted its position in Magnite by 212.8% during the first quarter. Tidal Investments LLC now owns 69,388 shares of the company’s stock worth $746,000 after acquiring an additional 47,205 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Magnite in the second quarter valued at approximately $671,000. Finally, Victory Capital Management Inc. increased its stake in shares of Magnite by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock worth $18,569,000 after acquiring an additional 37,601 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Wall Street Analyst Weigh In

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

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.