XTX Topco Ltd Acquires Shares of 15,889 Magnite, Inc. (NASDAQ:MGNI)

XTX Topco Ltd bought a new position in shares of Magnite, Inc. (NASDAQ:MGNI) during the 3rd quarter, Holdings Channel.com reports. The fund bought 15,889 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Magnite by 125.3% during the third quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after buying an additional 3,659,759 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in shares of Magnite during the 2nd quarter worth $11,227,000. Driehaus Capital Management LLC acquired a new stake in shares of Magnite during the 2nd quarter worth $9,938,000. Marshall Wace LLP increased its position in shares of Magnite by 59.0% in the second quarter. Marshall Wace LLP now owns 1,559,520 shares of the company’s stock worth $20,726,000 after purchasing an additional 578,678 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Magnite by 136.0% in the third quarter. Harbor Capital Advisors Inc. now owns 921,531 shares of the company’s stock valued at $12,763,000 after purchasing an additional 531,069 shares in the last quarter. 73.40% of the stock is owned by institutional investors.

Magnite Stock Performance

Magnite stock opened at $15.72 on Friday. The business has a 50 day moving average of $14.88 and a 200-day moving average of $13.94. The company has a market capitalization of $2.21 billion, a P/E ratio of 262.00, a P/E/G ratio of 1.35 and a beta of 2.50. Magnite, Inc. has a 1 year low of $8.38 and a 1 year high of $18.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling at Magnite

In related news, CAO Brian Gephart sold 2,156 shares of Magnite stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $15.00, for a total value of $32,340.00. Following the transaction, the chief accounting officer now directly owns 116,982 shares of the company’s stock, valued at $1,754,730. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aaron Saltz sold 5,112 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.50, for a total transaction of $69,012.00. Following the sale, the insider now directly owns 307,745 shares of the company’s stock, valued at $4,154,557.50. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,752 shares of company stock worth $5,938,282. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on MGNI. Scotiabank assumed coverage on shares of Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Needham & Company LLC lifted their price objective on shares of Magnite from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Macquarie restated an “outperform” rating and set a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of Magnite in a research note on Friday, September 27th. Finally, Wells Fargo & Company started coverage on Magnite in a research report on Monday, October 28th. They set an “equal weight” rating and a $13.00 price objective for the company. 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 MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and an average price target of $17.73.

Magnite 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.