Victory Capital Management Inc. boosted its holdings in shares of Magnite, Inc. (NASDAQ:MGNI - Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,340,705 shares of the company's stock after purchasing an additional 37,601 shares during the period. Victory Capital Management Inc. owned 0.95% of Magnite worth $18,569,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank lifted its position in Magnite by 6.7% during the 1st quarter. Swiss National Bank now owns 244,900 shares of the company's stock worth $2,633,000 after buying an additional 15,400 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Magnite by 30.6% in the first quarter. Russell Investments Group Ltd. now owns 140,200 shares of the company's stock valued at $1,507,000 after purchasing an additional 32,854 shares in the last quarter. ProShare Advisors LLC raised its position in Magnite by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 24,325 shares of the company's stock worth $261,000 after purchasing an additional 1,914 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Magnite by 61.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,859 shares of the company's stock worth $665,000 after purchasing an additional 23,628 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Magnite by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 12,818,197 shares of the company's stock worth $137,796,000 after buying an additional 166,522 shares in the last quarter. Institutional investors own 73.40% of the company's stock.
Wall Street Analyst Weigh In
MGNI has been the subject of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and set a $19.00 target price on shares of Magnite in a research report on Friday, September 27th. Wells Fargo & Company started coverage on Magnite in a report on Monday, October 28th. They set an "equal weight" rating and a $13.00 price objective for the company. Lake Street Capital assumed coverage on shares of Magnite in a research report on Thursday, July 25th. They set a "buy" rating and a $21.00 target price on the stock. Benchmark reiterated a "buy" rating and set a $21.00 price target on shares of Magnite in a research report on Wednesday, October 2nd. Finally, Craig Hallum reissued a "buy" rating and set a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.96.
View Our Latest Analysis on Magnite
Insider Activity
In related news, insider Aaron Saltz sold 5,112 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.50, for a total value of $69,012.00. Following the completion of the transaction, the insider now directly owns 307,745 shares in the company, valued at approximately $4,154,557.50. The trade was a 1.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $32,340.00. Following the sale, the chief accounting officer now directly owns 116,982 shares of the company's stock, valued at approximately $1,754,730. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
Magnite Trading Up 4.0 %
NASDAQ:MGNI traded up $0.62 during trading hours on Tuesday, hitting $16.26. The stock had a trading volume of 1,833,615 shares, compared to its average volume of 1,645,016. The business's 50 day moving average is $13.14 and its 200-day moving average is $13.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 260.67, a P/E/G ratio of 1.48 and a beta of 2.43. Magnite, Inc. has a one year low of $7.74 and a one year high of $17.00.
Magnite Profile
(
Free Report)
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.
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