XTX Topco Ltd Takes Position in Magnite, Inc. (NASDAQ:MGNI)

XTX Topco Ltd bought a new position in shares of Magnite, Inc. (NASDAQ:MGNI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,889 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently bought and sold shares of MGNI. Wellington Management Group LLP raised its holdings in shares of Magnite by 125.3% during the third quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after acquiring an additional 3,659,759 shares during the period. Stifel Financial Corp lifted its holdings in shares of Magnite by 85.8% in the third quarter. Stifel Financial Corp now owns 46,502 shares of the company’s stock valued at $644,000 after purchasing an additional 21,472 shares in the last quarter. Quarry LP boosted its position in shares of Magnite by 446.8% during the third 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. Petrus Trust Company LTA bought a new position in shares of Magnite during the third quarter worth about $680,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Magnite by 1,271.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 145,577 shares of the company’s stock worth $2,016,000 after acquiring an additional 134,959 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Brian Gephart sold 2,156 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 116,982 shares in the company, valued at approximately $1,754,730. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Saltz sold 5,112 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the sale, the insider now owns 307,745 shares of the company’s stock, valued at $4,154,557.50. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 352,752 shares of company stock valued at $5,938,282. Company insiders own 4.30% of the company’s stock.

Magnite Price Performance

NASDAQ:MGNI opened at $15.72 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 262.00, a P/E/G ratio of 1.35 and a beta of 2.50. The firm’s fifty day moving average price is $14.88 and its two-hundred day moving average price is $13.94. Magnite, Inc. has a one year low of $8.38 and a one year high of $18.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

MGNI has been the topic of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Magnite from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, December 5th. 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 objective for the company. Macquarie reiterated an “outperform” rating and set a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Scotiabank initiated coverage on Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and set a $21.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.73.

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.