Magnite Inc (NASDAQ: MGNI) is -3.02% lower on its value in year-to-date trading and has touched a low of $8.38 and a high of $18.38 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MGNI stock was last observed hovering at around $15.14 in the last trading session, with the day’s gains setting it 0.3%.
Currently trading at $15.44, the stock is -4.32% and -4.55% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.13 million and changing 1.98% at the moment leaves the stock 16.27% off its SMA200. MGNI registered 77.68% gain for a year compared to 6-month gain of 6.19%. The firm has a 50-day simple moving average (SMA 50) of $16.176 and a 200-day simple moving average (SMA200) of $13.27955.
The stock witnessed a -5.33% loss in the last 1 month and extending the period to 3 months gives it a 28.45%, and is -1.09% 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 4.26% over the week and 4.42% over the month.
Magnite Inc (MGNI) has around 911 employees, a market worth around $2.17B and $661.13M in sales. Current P/E ratio is 134.38 and Fwd P/E is 16.51. Profit margin for the company is 2.62%. Distance from 52-week low is 84.36% and -16.00% from its 52-week high. The company has generated returns on investments over the last 12 months (1.31%).
with sales reaching $184.12M over the same period.The EPS is expected to grow by 40.87% this year, but quarterly earnings will post 11.24% year-over-year. Quarterly sales are estimated to grow 11.40% in year-over-year returns.
Magnite Inc (MGNI) Top Institutional Holders
390.0 institutions hold shares in Magnite Inc (MGNI), with institutional investors hold 89.32% of the company’s shares. The shares outstanding are 141.15M, and float is at 135.78M with Short Float at 6.00%. Institutions hold 87.56% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 12.96 million shares valued at $172.3 million. The investor’s holdings represent 9.3069% of the MGNI Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 9.7 million shares valued at $128.91 million to account for 6.9633 of the shares outstanding. The other top investors are FMR LLC which holds 5.5 million shares representing 3.9517% and valued at over $73.16 million, while DIMENSIONAL FUND ADVISORS LP holds 3.8721 of the shares totaling 5.39 million with a market value of $71.68 million.
Magnite Inc (MGNI) Insider Activity
The most recent transaction is an insider sale by Day David, the company’s CHIEF FINANCIAL OFFICER. SEC filings show that Day David sold 13,345 shares of the company’s common stock on Jan 03 ’25 at a price of $17.00 per share for a total of $0.23 million. Following the sale, the insider now owns 0.37 million shares.
Still, SEC filings show that on Dec 17 ’24, Day David (CHIEF FINANCIAL OFFICER) disposed off 13,500 shares at an average price of $16.32 for $0.22 million. The insider now directly holds 387,359 shares of Magnite Inc (MGNI).
