Magnite, Inc. (NASDAQ:MGNI - Get Free Report) 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 transaction of $32,340.00. Following the completion of the sale, the chief accounting officer now owns 116,982 shares of the company's stock, valued at $1,754,730. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Magnite Stock Up 3.1 %
NASDAQ MGNI opened at $16.80 on Thursday. 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 firm has a 50-day simple moving average of $12.97 and a 200 day simple moving average of $12.84. 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 PE ratio of 280.00, a PEG ratio of 1.52 and a beta of 2.43.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on MGNI shares. Bank of America upped their price objective on shares of Magnite from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Needham & Company LLC restated a "buy" rating and set a $15.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Benchmark restated a "buy" rating and set a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Macquarie restated an "outperform" rating and set a $18.00 price target on shares of Magnite in a report on Friday, November 8th. Finally, Wells Fargo & Company started coverage on shares of Magnite in a report on Monday, October 28th. They set an "equal weight" rating and a $13.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.96.
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Institutional Investors Weigh In On Magnite
Several hedge funds have recently made changes to their positions in MGNI. Granite Investment Partners LLC bought a new position in Magnite during the second quarter worth about $11,227,000. Driehaus Capital Management LLC bought a new position in Magnite during the second quarter worth about $9,938,000. Marshall Wace LLP lifted its stake in Magnite by 59.0% during the second quarter. Marshall Wace LLP now owns 1,559,520 shares of the company's stock worth $20,726,000 after purchasing an additional 578,678 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Magnite by 136.0% during the third quarter. Harbor Capital Advisors Inc. now owns 921,531 shares of the company's stock worth $12,763,000 after purchasing an additional 531,069 shares during the period. Finally, Dana Investment Advisors Inc. bought a new position in Magnite during the second quarter worth about $6,556,000. Institutional investors own 73.40% of the company's stock.
Magnite Company Profile
(
Get Free Report)
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.
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