Magnite Inc (NASDAQ: MGNI) is 27.01% higher on its value in year-to-date trading and has touched a low of $8.38 and a high of $21.29 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 $20.62 in the last trading session, with the day’s loss setting it -0.4%.
Currently trading at $20.22, the stock is 15.68% and 19.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.25 million and changing -1.94% at the moment leaves the stock 44.65% off its SMA200. MGNI registered 116.95% gain for a year compared to 6-month gain of 63.06%. The firm has a 50-day simple moving average (SMA 50) of $16.8686 and a 200-day simple moving average (SMA200) of $13.9234.
The stock witnessed a 29.53% loss in the last 1 month and extending the period to 3 months gives it a 49.89%, and is 14.17% 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 6.05% over the week and 5.01% over the month.
Magnite Inc (MGNI) has around 911 employees, a market worth around $2.84B and $661.13M in sales. Current P/E ratio is 175.98 and Fwd P/E is 21.80. Profit margin for the company is 2.62%. Distance from 52-week low is 141.43% and -5.03% from its 52-week high. The company has generated returns on investments over the last 12 months (1.31%).
The EPS is expected to grow by 40.59% this year.
Magnite Inc (MGNI) Top Institutional Holders
396.0 institutions hold shares in Magnite Inc (MGNI), with institutional investors hold 95.68% of the company’s shares. The shares outstanding are 141.15M, and float is at 135.24M with Short Float at 6.49%. Institutions hold 93.44% 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
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Magnite Inc disclosed in a document filed with the SEC on Feb 07 ’25 that Rossman James (Director) sold a total of 149,936 shares of the company’s common stock. The trade occurred on Feb 07 ’25 and was made at $19.46 per share for $2.92 million. Following the transaction, the insider now directly holds 0.22 million shares of the MGNI stock.
Still, SEC filings show that on Feb 07 ’25, Buckley Sean Patrick (President, Revenue) disposed off 18,693 shares at an average price of $20.00 for $0.37 million. The insider now directly holds 408,529 shares of Magnite Inc (MGNI).
