Capstone Investment Advisors LLC Sells 17,770 Shares of Magnite, Inc. (NASDAQ:MGNI)

Capstone Investment Advisors LLC decreased its position in Magnite, Inc. (NASDAQ:MGNI) by 59.7% in the third quarter, Holdings Channel.com reports. The firm owned 12,011 shares of the company’s stock after selling 17,770 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Magnite were worth $166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Magnite by 111.8% in the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after buying an additional 1,188 shares during the period. Asset Dedication LLC purchased a new stake in Magnite in the second quarter worth about $52,000. Blue Trust Inc. purchased a new position in shares of Magnite during the second quarter valued at approximately $56,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Magnite by 973.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock worth $58,000 after purchasing an additional 3,972 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Magnite in the 2nd quarter worth approximately $93,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MGNI. Wells Fargo & Company initiated coverage on Magnite in a research note on Monday, October 28th. They set an “equal weight” rating and a $13.00 price objective for the company. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of Magnite in a research report on Friday, September 27th. Macquarie reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Insider Buying and Selling at Magnite

In related news, Director Robert F. Spillane sold 12,500 shares of Magnite stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.12, for a total transaction of $201,500.00. Following the transaction, the director now directly owns 70,651 shares in the company, valued at approximately $1,138,894.12. The trade was a 15.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Patrick Buckley sold 10,001 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.60, for a total value of $156,015.60. Following the completion of the sale, the executive now owns 303,743 shares of the company’s stock, valued at approximately $4,738,390.80. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,143 shares of company stock worth $3,121,851 in the last three months. 4.30% of the stock is currently owned by company insiders.

Magnite Stock Performance

Shares of MGNI opened at $16.79 on Monday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 279.83, a PEG ratio of 1.37 and a beta of 2.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a one year low of $7.97 and a one year high of $18.38. The business has a fifty day moving average of $13.72 and a 200 day moving average of $13.49.

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.