DORCHESTER WEALTH MANAGEMENT Co Has $382,000 Stock Position in Magnite, Inc. (NASDAQ:MGNI)

DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of Magnite, Inc. (NASDAQ:MGNI) by 33.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,000 shares of the company’s stock after acquiring an additional 6,000 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Magnite were worth $382,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MGNI. Quarry LP lifted its holdings in shares of 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 holdings in shares of 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 holdings in shares of 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 acquired a new stake in shares of Magnite during the third quarter worth $141,000. Finally, Seelaus Asset Management LLC acquired a new stake in shares of Magnite during the third quarter worth $175,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MGNI. Royal Bank of Canada lifted their target price on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of Magnite in a research note on Friday, January 17th. Wolfe Research boosted their price target on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.35.

Magnite Stock Performance

Magnite stock 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 company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $17.23 and its two-hundred day moving average price is $15.08. The stock has a market cap of $2.49 billion, a PE ratio of 294.67, a P/E/G ratio of 1.00 and a beta of 2.52.

Insider Buying and Selling at Magnite

In other news, Director Paul Caine sold 5,000 shares of the business’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 directly owns 182,837 shares in the company, valued at approximately $3,720,732.95. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Patrick Buckley sold 10,527 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $19.13, for a total value of $201,381.51. Following the sale, the insider now owns 370,558 shares in the company, valued at approximately $7,088,774.54. This trade represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 431,655 shares of company stock worth $8,008,280 over the last 90 days. Insiders own 4.30% of the company’s stock.

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.