Sean Patrick Buckley Sells 10,527 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $19.13, for a total transaction of $201,381.51. Following the transaction, the insider now directly owns 370,558 shares in the company, valued at approximately $7,088,774.54. This trade represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sean Patrick Buckley also recently made the following trade(s):

• On Friday, February 7th, Sean Patrick Buckley sold 18,693 shares of Magnite stock. The stock was sold at an average price of $20.00, for a total transaction of $373,860.00.

Magnite Price Performance

NASDAQ:MGNI opened at $17.68 on Friday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 294.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average is $17.23 and its two-hundred day moving average is $15.08. Magnite, Inc. has a 12-month low of $8.38 and a 12-month high of $21.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Magnite by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock valued at $18,569,000 after purchasing an additional 37,601 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Magnite during the 4th quarter worth about $586,000. Rice Hall James & Associates LLC acquired a new stake in shares of Magnite in the fourth quarter worth approximately $3,000,000. Jennison Associates LLC acquired a new stake in shares of Magnite in the fourth quarter worth approximately $818,000. Finally, Penbrook Management LLC boosted its position in shares of Magnite by 60.8% in the fourth quarter. Penbrook Management LLC now owns 38,480 shares of the company’s stock worth $613,000 after acquiring an additional 14,550 shares during the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MGNI shares. Wells Fargo & Company upped their price target on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Macquarie reissued an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Scotiabank started coverage on shares of Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Friday, January 17th. Finally, Wolfe Research increased their price objective on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.35.

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.