Magnite, Inc. (NASDAQ:MGNI – Get Free Report) CEO Michael G. Barrett sold 147,996 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $17.52, for a total transaction of $2,592,889.92. Following the completion of the sale, the chief executive officer now owns 634,914 shares in the company, valued at $11,123,693.28. This represents a 18.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Magnite Stock Up 3.0 %
MGNI opened at $18.00 on Monday. The company has a 50 day moving average of $14.15 and a 200 day moving average of $13.69. The company has a market cap of $2.53 billion, a PE ratio of 300.00, a price-to-earnings-growth ratio of 1.43 and a beta of 2.50. Magnite, Inc. has a 12 month low of $8.05 and a 12 month high of $18.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.
Analyst Ratings Changes
Several equities research analysts have commented on MGNI shares. Craig Hallum reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday, August 21st. Wells Fargo & Company started 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 for the company. Scotiabank started coverage on shares of Magnite in a research note on Thursday. They issued a “sector outperform” rating and a $22.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Magnite from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Macquarie reiterated an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and an average target price of $17.73.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. 272 Capital LP bought a new position in Magnite in the 3rd quarter valued at $598,000. Franklin Resources Inc. raised its position in shares of Magnite by 99.7% during the 3rd quarter. Franklin Resources Inc. now owns 144,563 shares of the company’s stock valued at $2,002,000 after buying an additional 72,169 shares in the last quarter. Tidal Investments LLC raised its position in shares of Magnite by 22.2% during the 3rd quarter. Tidal Investments LLC now owns 130,580 shares of the company’s stock valued at $1,809,000 after buying an additional 23,688 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Magnite by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock valued at $41,118,000 after buying an additional 63,545 shares in the last quarter. Finally, Barclays PLC raised its position in Magnite by 352.9% in the 3rd quarter. Barclays PLC now owns 210,598 shares of the company’s stock worth $2,917,000 after purchasing an additional 164,093 shares during the period. 73.40% of the stock is owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Magnite
- Quiet Period Expirations Explained
- Guidewire Software Provides Long-Awaited Buying Opportunity
- Financial Services Stocks Investing
- What’s Behind These 3 Recent Analyst Stock Upgrades?
- Stock Sentiment Analysis: How it Works
- Fast-Growing Companies That Are Still Undervalued
Receive News & Ratings for Magnite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnite and related companies with MarketBeat.com's FREE daily email newsletter.