Magnite, Inc. (NASDAQ:MGNI) Holdings Reduced by P.A.W. Capital Corp

P.A.W. Capital Corp decreased its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 39.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 195,000 shares of the company’s stock after selling 125,000 shares during the quarter. Magnite makes up about 5.9% of P.A.W. Capital Corp’s investment portfolio, making the stock its 8th largest position. P.A.W. Capital Corp’s holdings in Magnite were worth $3,104,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its position in Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares in the last quarter. KBC Group NV lifted its position in Magnite by 66.5% during the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after buying an additional 2,374 shares in the last quarter. Blue Trust Inc. lifted its position in Magnite by 87.0% during the third quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after buying an additional 3,689 shares in the last quarter. Lebenthal Global Advisors LLC purchased a new position in Magnite during the third quarter worth approximately $141,000. Finally, Seelaus Asset Management LLC purchased a new position in Magnite during the third quarter worth approximately $175,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Paul Caine sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the completion of the transaction, the director now directly owns 182,837 shares of the company’s stock, valued at $3,720,732.95. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David Buonasera sold 1,969 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $16.31, for a total value of $32,114.39. Following the transaction, the chief technology officer now directly owns 223,795 shares of the company’s stock, valued at $3,650,096.45. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,655 shares of company stock valued at $8,008,280 in the last three months. 4.30% of the stock is owned by corporate insiders.

Magnite Trading Down 3.2 %

MGNI opened at $17.68 on Friday. Magnite, Inc. has a 12 month low of $8.38 and a 12 month high of $21.29. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 294.67, a PEG ratio of 1.00 and a beta of 2.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $17.23 and a 200 day moving average price of $15.08.

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.