DORCHESTER WEALTH MANAGEMENT Co Has $382,000 Stock Holdings in Magnite, Inc. (NASDAQ:MGNI)

DORCHESTER WEALTH MANAGEMENT Co lifted its position in Magnite, Inc. (NASDAQ:MGNI) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the company’s stock after acquiring an additional 6,000 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Magnite were worth $382,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quarry LP increased its stake in Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after purchasing an additional 4,508 shares in the last quarter. KBC Group NV increased its stake in Magnite by 66.5% during the 4th quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. increased its stake in Magnite by 87.0% during the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after purchasing an additional 3,689 shares in the last quarter. Lebenthal Global Advisors LLC bought a new stake in Magnite during the 3rd quarter worth approximately $141,000. Finally, Seelaus Asset Management LLC bought a new stake in Magnite during the 3rd quarter worth approximately $175,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Magnite

In other Magnite news, Director Paul Caine sold 5,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the completion of the sale, the director now owns 182,837 shares of the company’s stock, valued at $3,720,732.95. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David Buonasera sold 1,969 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the sale, the chief technology officer now directly owns 223,795 shares of the company’s stock, valued at $3,650,096.45. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 431,655 shares of company stock valued at $8,008,280. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MGNI. Wolfe Research increased their target price on Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Macquarie reissued an “outperform” rating and set a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. Royal Bank of Canada increased their target price on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Scotiabank assumed coverage on shares of Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and twelve have issued 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 price target of $18.35.

Magnite Price Performance

NASDAQ:MGNI opened at $17.68 on Friday. Magnite, Inc. has a 1-year low of $8.38 and a 1-year high of $21.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $15.08. The stock has a market capitalization of $2.49 billion, a PE ratio of 294.67, a P/E/G ratio of 1.00 and a beta of 2.52.

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.