Versor Investments LP Acquires 7,500 Shares of Magnite, Inc. (NASDAQ:MGNI)

Versor Investments LP grew its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 61.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,700 shares of the company’s stock after acquiring an additional 7,500 shares during the quarter. Versor Investments LP’s holdings in Magnite were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New Century Financial Group LLC bought a new stake in shares of Magnite in the 2nd quarter worth $640,000. Commonwealth Equity Services LLC grew its stake in shares of Magnite by 668.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 81,573 shares of the company’s stock worth $1,084,000 after acquiring an additional 70,956 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Magnite by 212.8% in the 1st quarter. Tidal Investments LLC now owns 69,388 shares of the company’s stock worth $746,000 after acquiring an additional 47,205 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Magnite in the 2nd quarter worth $671,000. Finally, Swiss National Bank grew its stake in shares of Magnite by 6.7% in the 1st quarter. Swiss National Bank now owns 244,900 shares of the company’s stock worth $2,633,000 after acquiring an additional 15,400 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

Insider Buying and Selling at Magnite

In other news, insider Adam Lee Soroca sold 7,910 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.59, for a total value of $99,586.90. Following the sale, the insider now directly owns 436,001 shares of the company’s stock, valued at approximately $5,489,252.59. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Sean Patrick Buckley sold 2,623 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.53, for a total transaction of $32,866.19. Following the completion of the sale, the executive now directly owns 331,742 shares in the company, valued at approximately $4,156,727.26. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,801 shares of company stock valued at $233,805 over the last three months. 4.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of Magnite in a research note on Wednesday, October 2nd. Macquarie restated an “outperform” rating and set a $18.00 price target on shares of Magnite in a research report on Friday, November 8th. Lake Street Capital initiated coverage on shares of Magnite in a research report on Thursday, July 25th. They set a “buy” rating and a $21.00 price target for the company. Craig Hallum restated a “buy” rating and set a $20.00 price target on shares of Magnite in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company initiated coverage on shares of Magnite in a research report on Monday, October 28th. They set an “equal weight” rating and a $13.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.96.

Magnite Price Performance

NASDAQ MGNI opened at $15.85 on Friday. The company has a market cap of $2.23 billion, a PE ratio of 264.17, a price-to-earnings-growth ratio of 1.56 and a beta of 2.43. Magnite, Inc. has a 52 week low of $7.61 and a 52 week high of $17.00. 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’s 50-day simple moving average is $13.08 and its two-hundred day simple moving average is $12.92.

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.