GSA Capital Partners LLP Decreases Stock Position in Magnite, Inc. (NASDAQ:MGNI)

GSA Capital Partners LLP cut its position in Magnite, Inc. (NASDAQ:MGNI) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,104 shares of the company’s stock after selling 25,516 shares during the quarter. Magnite accounts for 0.3% of GSA Capital Partners LLP’s portfolio, making the stock its 14th largest position. GSA Capital Partners LLP’s holdings in Magnite were worth $3,658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MGNI. Allspring Global Investments Holdings LLC purchased a new position in shares of Magnite in the first quarter valued at $340,000. Empowered Funds LLC boosted its stake in shares of Magnite by 9.1% in the first quarter. Empowered Funds LLC now owns 42,761 shares of the company’s stock valued at $460,000 after purchasing an additional 3,560 shares during the period. SG Americas Securities LLC boosted its stake in shares of Magnite by 26.9% in the first quarter. SG Americas Securities LLC now owns 61,337 shares of the company’s stock valued at $659,000 after purchasing an additional 12,987 shares during the period. Swiss National Bank boosted its stake in shares of Magnite by 6.7% in the first quarter. Swiss National Bank now owns 244,900 shares of the company’s stock valued at $2,633,000 after purchasing an additional 15,400 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake 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 during the period. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price target on the stock. Wolfe Research assumed coverage on shares of Magnite in a report on Tuesday, July 16th. They issued an “outperform” rating and a $16.00 price target on the stock. Macquarie reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Magnite in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a report 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.96.

Magnite Stock Up 16.2 %

Shares of NASDAQ:MGNI opened at $15.82 on Tuesday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 263.67, a price-to-earnings-growth ratio of 1.27 and a beta of 2.43. Magnite, Inc. has a 1-year low of $6.88 and a 1-year high of $16.03. The company’s fifty day moving average is $12.84 and its two-hundred day moving average is $12.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.10.

Insiders Place Their Bets

In related news, CEO Michael G. Barrett sold 75,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $12.63, for a total value of $947,250.00. Following the sale, the chief executive officer now owns 944,552 shares of the company’s stock, valued at $11,929,691.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael G. Barrett sold 75,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $12.63, for a total value of $947,250.00. Following the sale, the chief executive officer now owns 944,552 shares of the company’s stock, valued at $11,929,691.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Buonasera sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $12.65, for a total transaction of $126,500.00. Following the completion of the sale, the chief technology officer now directly owns 258,102 shares in the company, valued at approximately $3,264,990.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,645 shares of company stock valued at $1,275,215. Company insiders own 4.30% of the company’s stock.

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.