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 the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $15.60, for a total value of $156,015.60. Following the sale, the executive now directly owns 303,743 shares in the company, valued at approximately $4,738,390.80. The trade was a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Magnite Stock Up 4.0 %

Shares of NASDAQ MGNI traded up $0.62 on Tuesday, hitting $16.26. The company had a trading volume of 1,833,615 shares, compared to its average volume of 1,645,016. The company has a quick ratio of 1.11, a current 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. The firm has a market capitalization of $2.29 billion, a P/E ratio of 271.00, a PEG ratio of 1.48 and a beta of 2.43. The business has a 50 day moving average of $13.20 and a two-hundred day moving average of $13.07.

Hedge Funds Weigh In On Magnite

Institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. lifted its position in shares of Magnite by 111.8% during the second 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 in the last quarter. Asset Dedication LLC purchased a new stake in Magnite during the 2nd quarter worth $52,000. Blue Trust Inc. acquired a new position in Magnite in the 2nd quarter worth $56,000. Benjamin F. Edwards & Company Inc. boosted its position in Magnite by 973.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock valued at $58,000 after buying an additional 3,972 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after acquiring an additional 4,508 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $21.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. Bank of America boosted their target price on shares of Magnite from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company assumed coverage on shares of Magnite in a research note on Monday, October 28th. They set an “equal weight” rating and a $13.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. Finally, Lake Street Capital started coverage on Magnite in a report on Thursday, July 25th. They set a “buy” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.96.

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.