Magnite, Inc. (NASDAQ:MGNI - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock investors purchased 7,939 call options on the stock. This is an increase of 99% compared to the average daily volume of 3,987 call options.
Insider Buying and Selling
In other news, CEO Michael G. Barrett sold 27,004 shares of Magnite stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $17.63, for a total transaction of $476,080.52. Following the completion of the sale, the chief executive officer now directly owns 782,910 shares in the company, valued at $13,802,703.30. The trade was a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Spillane sold 12,500 shares of Magnite stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.12, for a total value of $201,500.00. Following the completion of the sale, the director now owns 70,651 shares of the company's stock, valued at $1,138,894.12. This trade represents a 15.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,175 shares of company stock valued at $8,306,698. 4.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of MGNI. SBI Securities Co. Ltd. acquired a new position in shares of Magnite during the fourth quarter valued at about $25,000. Larson Financial Group LLC raised its position in shares of Magnite by 179.2% in the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock valued at $58,000 after purchasing an additional 2,341 shares during the period. Quarry LP lifted its holdings in Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company's stock worth $76,000 after purchasing an additional 4,508 shares in the last quarter. Quantbot Technologies LP bought a new position in Magnite in the 4th quarter valued at $87,000. Finally, Jones Financial Companies Lllp increased its position in shares of Magnite by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company's stock worth $93,000 after purchasing an additional 1,000 shares during the last quarter. 73.40% of the stock is owned by institutional investors.
Magnite Stock Performance
NASDAQ MGNI traded up $0.51 during trading on Monday, reaching $20.00. The company's stock had a trading volume of 2,102,770 shares, compared to its average volume of 1,713,613. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite has a 12 month low of $8.38 and a 12 month high of $21.29. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 333.33, a price-to-earnings-growth ratio of 1.05 and a beta of 2.52. The firm has a 50 day moving average price of $17.01 and a 200 day moving average price of $14.89.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. Scotiabank started coverage on shares of Magnite in a report on Thursday, December 5th. They set a "sector outperform" rating and a $22.00 target price on the stock. Royal Bank of Canada upped their price objective on Magnite from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on Magnite from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Magnite in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.35.
Read Our Latest Stock Report on Magnite
Magnite Company Profile
(
Get 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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