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

Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley sold 10,001 shares of Magnite stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $15.60, for a total transaction of $156,015.60. Following the completion of the sale, the executive now owns 303,743 shares in the company, valued at $4,738,390.80. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Magnite Trading Down 1.4 %

NASDAQ MGNI opened at $16.03 on Thursday. The firm has a market capitalization of $2.26 billion, a PE ratio of 267.17, a price-to-earnings-growth ratio of 1.33 and a beta of 2.43. The business’s 50-day moving average price is $13.27 and its two-hundred day moving average price is $13.09. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a 12 month low of $7.74 and a 12 month high of $17.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MGNI shares. Lake Street Capital started coverage on Magnite in a research note on Thursday, July 25th. They set a “buy” rating and a $21.00 price objective on the stock. Bank of America lifted their price target on Magnite from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $21.00 price objective on shares of Magnite in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of Magnite in a research report on Friday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Magnite in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Magnite currently has an average rating of “Moderate Buy” and a consensus price target of $16.96.

Institutional Trading of Magnite

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of Magnite by 111.8% in the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after purchasing an additional 1,188 shares during the period. Asset Dedication LLC bought a new stake in Magnite during the second quarter valued at $52,000. Blue Trust Inc. acquired a new stake in Magnite during the 2nd quarter worth about $56,000. Benjamin F. Edwards & Company Inc. grew 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 worth $58,000 after acquiring an additional 3,972 shares during the period. Finally, Quarry LP lifted its stake in shares of Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after purchasing an additional 4,508 shares during the period. 73.40% of the stock is currently owned by institutional investors.

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.