188,466 Shares in Magnite, Inc. (NASDAQ:MGNI) Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new position in shares of Magnite, Inc. (NASDAQ:MGNI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 188,466 shares of the company’s stock, valued at approximately $3,000,000. Rice Hall James & Associates LLC owned approximately 0.13% of Magnite as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Truist Financial Corp boosted its stake in Magnite by 2.0% during the fourth quarter. Truist Financial Corp now owns 34,242 shares of the company’s stock worth $545,000 after acquiring an additional 674 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Magnite by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock worth $268,000 after acquiring an additional 892 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in Magnite by 4.6% during the third quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock worth $336,000 after acquiring an additional 1,068 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Magnite by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,449 shares of the company’s stock worth $408,000 after buying an additional 2,298 shares during the last quarter. Finally, KBC Group NV raised its holdings 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 during the last quarter. 73.40% of the stock is owned by institutional investors.

Magnite Stock Performance

NASDAQ MGNI opened at $19.39 on Wednesday. Magnite, Inc. has a 52-week low of $8.38 and a 52-week high of $21.29. The company has a 50-day simple moving average of $17.13 and a 200 day simple moving average of $14.98. 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 capitalization of $2.73 billion, a PE ratio of 323.17, a price-to-earnings-growth ratio of 1.10 and a beta of 2.52.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director James Rossman sold 149,936 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $19.46, for a total transaction of $2,917,754.56. Following the completion of the sale, the director now owns 219,920 shares in the company, valued at approximately $4,279,643.20. This trade represents a 40.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Caine sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the sale, the director now owns 182,837 shares of the company’s stock, valued at $3,720,732.95. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,675 shares of company stock worth $8,105,198. 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.