Magnite Inc. (NASDAQ: MGNI) is 65.19% higher on its value in year-to-date trading and has touched a low of $4.09 and a high of $64.39 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MGNI stock was last observed hovering at around $52.17 in the last trading session, with the day’s loss setting it -1.44% off its average median price target of $66.00 for the next 12 months. It is also 36.59% off the consensus price target high of $80.00 offered by 8 analysts, but current levels are -198.41% lower than the price target low of $17.00 for the same period.
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Currently trading at $50.73, the stock is -4.63% and 28.81% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.64 million and changing -2.76% at the moment leaves the stock 209.31% off its SMA200. MGNI registered 359.93% gain for a year compared to 6-month gain of 605.56%. The firm has a 50-day simple moving average (SMA 50) of $45.64 and a 200-day simple moving average (SMA200) of $21.13.
The stock witnessed a 46.45% loss in the last 1 month and extending the period to 3 months gives it a 160.55%, and is -3.77% down 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 12.85% over the week and 11.09% over the month.
Magnite Inc. (MGNI) has around 444 employees, a market worth around $5.63B and $221.60M in sales. Fwd P/E is 113.49. Profit margin for the company is -24.10%. Distance from 52-week low is 1140.34% and -21.21% 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 “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.00, where 2 rate it as a Hold and 0 think it is a “Overweight”. 6 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 -$0.02 with sales reaching $59.93M over the same period.The EPS is expected to grow by 60.60% this year, but quarterly earnings will post 29.60% year-over-year. Quarterly sales are estimated to grow 65.10% in year-over-year returns.
Magnite Inc. (MGNI) Top Institutional Holders
247 institutions hold shares in Magnite Inc. (MGNI), with 5.34M 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 8.10%. Institutions hold 76.81% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 8.03 million shares valued at $246.6 million. The investor’s holdings represent 6.95% of the MGNI Shares outstanding. As of Dec 30, 2020, the second largest holder is Granahan Investment Management Inc. with 6.72 million shares valued at $206.22 million to account for 5.81% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 5.26 million shares representing 4.55% and valued at over $161.41 million, while Allianz Asset Management GmbH holds 4.14% of the shares totaling 4.78 million with a market value of $146.82 million.
Magnite Inc. (MGNI) Insider Activity
A total of 53 insider transactions have happened at Magnite Inc. (MGNI) in the last six months, with sales accounting for 36 and purchases happening 17 times. The most recent transaction is an insider sale by Kershaw Thomas, the company’s Chief Technology Officer. SEC filings show that Kershaw Thomas sold 50,000 shares of the company’s common stock on Feb 16 at a price of $59.20 per share for a total of $2.96 million. Following the sale, the insider now owns 0.58 million shares.
Magnite Inc. disclosed in a document filed with the SEC on Feb 16 that Day David (CFO) sold a total of 7,372 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $60.69 per share for $0.45 million. Following the transaction, the insider now directly holds 0.28 million shares of the MGNI stock.
Still, SEC filings show that on Feb 16, Evans Katie Seitz (Chief Operating Officer) disposed off 30,138 shares at an average price of $56.13 for $1.69 million. The insider now directly holds 491,575 shares of Magnite Inc. (MGNI).