Published on 7 Nov 2023 on Insider Monkey via Yahoo Finance
Magnite (MGNI) Declined on Weakness in Spending
Choice Equities Capital Management, a hedge fund manager, released its third-quarter 2023 investor letter recently. You can view it here. In the third quarter, the fund generated -14.6% on a net basis which brought the year-to-date net performance to -6.2%. This compares to Russell 2000’s -5.1% loss for the quarter and +2.5% gain year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Choice Equities highlighted stocks like Magnite, Inc. (NASDAQ:MGNI) in the third quarter 2023 investor letter. Headquartered in New York, New York, Magnite, Inc. (NASDAQ:MGNI) is an independent sell-side advertising platform. On November 6, 2023, Magnite, Inc. (NASDAQ:MGNI) stock closed at $7.21 per share. One-month return of Magnite, Inc. (NASDAQ:MGNI) was -3.74%, and its shares gained 15.92% of their value over the last 52 weeks. Magnite, Inc. (NASDAQ:MGNI) has a market capitalization of $987.474 million.
Choice Equities made the following comment about Magnite, Inc. (NASDAQ:MGNI) in its Q3 2023 investor letter: