Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley Sells 10,001 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) CRO Sean Patrick Buckley sold 10,001 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $156,015.60. Following the completion of the sale, the executive now owns 303,743 shares of the company’s stock, valued at $4,738,390.80. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Magnite Stock Down 1.4 %

MGNI stock opened at $16.03 on Thursday. The stock has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $13.09. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.26 billion, a PE ratio of 267.17, a PEG ratio of 1.33 and a beta of 2.43. Magnite, Inc. has a twelve month low of $7.74 and a twelve month high of $17.00.

Analyst Ratings Changes

MGNI has been the topic of a number of research reports. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price objective on shares of Magnite in a research note on Friday, September 27th. Lake Street Capital initiated coverage on shares of Magnite in a report on Thursday, July 25th. They set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Magnite in a research report on Wednesday, October 2nd. Finally, Benchmark reissued a “buy” rating and set a $21.00 target price on shares of Magnite in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.96.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Magnite by 111.8% in 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 during the last quarter. Asset Dedication LLC purchased a new stake in Magnite during the second quarter valued at about $52,000. Blue Trust Inc. bought a new position in Magnite during the 2nd quarter worth approximately $56,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Magnite by 973.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock worth $58,000 after purchasing an additional 3,972 shares during the last quarter. Finally, Quarry LP grew its holdings in Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares during the last quarter. 73.40% of the stock is owned by institutional investors.

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.