Magnite, Inc. (NASDAQ:MGNI) CEO Michael G. Barrett Sells 27,004 Shares

Magnite, Inc. (NASDAQ:MGNI) CEO Michael G. Barrett sold 27,004 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $17.63, for a total value of $476,080.52. Following the sale, the chief executive officer now owns 782,910 shares in the company, valued at approximately $13,802,703.30. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Magnite Stock Performance

NASDAQ MGNI opened at $16.62 on Thursday. The business’s 50-day moving average price is $13.58 and its 200 day moving average price is $13.35. 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 twelve month low of $7.97 and a twelve month high of $18.38. The company has a market capitalization of $2.34 billion, a PE ratio of 277.00, a price-to-earnings-growth ratio of 1.36 and a beta of 2.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in Magnite by 111.8% in the second quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock valued at $30,000 after purchasing an additional 1,188 shares during the period. Asset Dedication LLC acquired a new position in shares of Magnite in the 2nd quarter valued at $52,000. Blue Trust Inc. purchased a new stake in shares of Magnite during the 2nd quarter valued at $56,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 buying an additional 3,972 shares during the last quarter. Finally, Quarry LP raised its position in shares of Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares during the period. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Magnite Company Profile

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.