Magnite Inc. (NASDAQ: MGNI) is 18.14% higher on its value in year-to-date trading and has touched a low of $4.09 and a high of $37.10 in the current 52-week trading range. The MGNI stock was last observed hovering at around $36.28 in the last trading session, with the day’s gains setting it 2.42% off its average median price target of $24.00 for the next 12 months. It is also 14.0% off the consensus price target high of $45.00 offered by 7 analysts, but current levels are -222.5% lower than the price target low of $12.00 for the same period.
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Currently trading at $38.70, the stock is 29.92% and 75.09% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.52 million and changing 6.67% at the moment leaves the stock 259.68% off its SMA200. MGNI registered 282.70% gain for a year compared to 6-month gain of 472.69%. The firm has a 50-day simple moving average (SMA 50) of $24.86 and a 200-day simple moving average (SMA200) of $11.54.
The stock witnessed a 56.04% loss in the last 1 month and extending the period to 3 months gives it a 298.68%, and is 32.46% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.93% over the week and 11.80% over the month.
Magnite Inc. (MGNI) has around 444 employees, a market worth around $4.21B and $188.10M in sales. Fwd P/E is 431.90. Profit margin for the company is -30.70%. Distance from 52-week low is 846.21% and 4.31% from its 52-week high. The company has generated returns on investments over the last 12 months (-23.30%).
Magnite Inc. (MGNI) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Magnite Inc. (MGNI) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Magnite Inc. is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.11 with sales reaching $73.82M over the same period.The EPS is expected to grow by 60.60% this year, but quarterly earnings will post 36.40% year-over-year. Quarterly sales are estimated to grow 52.30% in year-over-year returns.
Magnite Inc. (MGNI) Top Institutional Holders
247 institutions hold shares in Magnite Inc. (MGNI), with 5.18M shares held by insiders accounting for 4.62% while institutional investors hold 80.53% of the company’s shares. The shares outstanding are 110.42M, and float is at 106.79M with Short Float at 10.08%. Institutions hold 76.81% of the Float.
The top institutional shareholder in the company is Granahan Investment Management Inc. with over 10.02 million shares valued at $69.61 million. The investor’s holdings represent 8.95% of the MGNI Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 7.45 million shares valued at $51.77 million to account for 6.66% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 5.1 million shares representing 4.55% and valued at over $35.39 million, while Nine Ten Capital Management LLC holds 4.43% of the shares totaling 4.96 million with a market value of $34.48 million.
Magnite Inc. (MGNI) Insider Activity
A total of 51 insider transactions have happened at Magnite Inc. (MGNI) in the last six months, with sales accounting for 32 and purchases happening 19 times. The most recent transaction is an insider sale by Soroca Adam Lee, the company’s Head of Global Buyer Team. SEC filings show that Soroca Adam Lee sold 6,695 shares of the company’s common stock on Jan 04 at a price of $29.44 per share for a total of $0.2 million. Following the sale, the insider now owns 0.34 million shares.
Magnite Inc. disclosed in a document filed with the SEC on Dec 03 that Soroca Adam Lee (Head of Global Buyer Team) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Dec 03 and was made at $20.00 per share for $0.2 million. Following the transaction, the insider now directly holds 0.35 million shares of the MGNI stock.
Still, SEC filings show that on Dec 01, Soroca Adam Lee (Head of Global Buyer Team) disposed off 10,365 shares at an average price of $19.47 for $0.2 million. The insider now directly holds 357,806 shares of Magnite Inc. (MGNI).