Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart Sells 2,156 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 2,156 shares of the business’s stock in a transaction that occurred 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 directly owns 116,982 shares in the company, valued at approximately $1,754,730. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Magnite Trading Up 3.1 %

NASDAQ MGNI opened at $16.80 on Thursday. The firm’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $12.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. Magnite, Inc. has a twelve month low of $7.19 and a twelve month high of $17.00. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 280.00, a PEG ratio of 1.52 and a beta of 2.43.

Analyst Ratings Changes

Several research analysts have issued reports on the company. 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. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a report on Wednesday, August 21st. Wells Fargo & Company assumed coverage on Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price target on the stock. Lake Street Capital assumed coverage on Magnite in a report on Thursday, July 25th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Macquarie reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Magnite in a report on Friday, November 8th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.96.

Hedge Funds Weigh In On Magnite

Several institutional investors and hedge funds have recently modified their holdings of MGNI. Granite Investment Partners LLC purchased a new position in shares of Magnite during the 2nd quarter valued at $11,227,000. Driehaus Capital Management LLC purchased a new position in shares of Magnite during the 2nd quarter valued at $9,938,000. Marshall Wace LLP grew its holdings in shares of Magnite by 59.0% during the 2nd quarter. Marshall Wace LLP now owns 1,559,520 shares of the company’s stock valued at $20,726,000 after acquiring an additional 578,678 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Magnite by 136.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 921,531 shares of the company’s stock valued at $12,763,000 after acquiring an additional 531,069 shares in the last quarter. Finally, Dana Investment Advisors Inc. purchased a new position in shares of Magnite during the 2nd quarter valued at $6,556,000. 73.40% of the stock is currently owned by hedge funds and other 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.