Fulton Bank N.A. Has $572,000 Holdings in Magnite, Inc. (NASDAQ:MGNI)

Fulton Bank N.A. lifted its position in Magnite, Inc. (NASDAQ:MGNI) by 27.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,952 shares of the company’s stock after acquiring an additional 7,641 shares during the quarter. Fulton Bank N.A.’s holdings in Magnite were worth $572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its holdings in shares of Magnite by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after purchasing an additional 892 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Magnite by 4.6% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock worth $336,000 after acquiring an additional 1,068 shares in the last quarter. Arizona State Retirement System boosted its position in Magnite by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock worth $469,000 after acquiring an additional 1,160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Magnite by 8.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,449 shares of the company’s stock valued at $408,000 after acquiring an additional 2,298 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Magnite by 87.0% in the 3rd quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock valued at $105,000 after purchasing an additional 3,689 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Stock Down 1.0 %

MGNI stock opened at $16.46 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average of $16.11 and a two-hundred day moving average of $14.26. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 274.33, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51. Magnite, Inc. has a 52-week low of $8.38 and a 52-week high of $18.38.

Insider Buying and Selling at Magnite

In related news, CFO David Day sold 13,345 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $17.00, for a total transaction of $226,865.00. Following the transaction, the chief financial officer now owns 374,014 shares of the company’s stock, valued at approximately $6,358,238. The trade was a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO David Buonasera sold 1,969 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $16.31, for a total transaction of $32,114.39. Following the completion of the sale, the chief technology officer now directly owns 223,795 shares of the company’s stock, valued at approximately $3,650,096.45. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,097 shares of company stock valued at $6,165,147 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on MGNI. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC lifted their price objective on Magnite from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Scotiabank began coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Finally, Wolfe Research boosted their price target on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.19.

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.