The stock has a 36-month beta value of 2.25. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MGNI is 121.90M, and at present, short sellers hold a 4.87% of that float. On April 03, 2024, the average trading volume of MGNI was 1.13M shares.
MGNI) stock’s latest price update
Magnite Inc (NASDAQ: MGNI)’s stock price has decreased by -4.35 compared to its previous closing price of 10.58. However, the company has seen a -2.22% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-13 that Investors with an interest in Internet – Software stocks have likely encountered both Magnite (MGNI) and Palo Alto Networks (PANW). But which of these two stocks is more attractive to value investors?
MGNI’s Market Performance
Magnite Inc (MGNI) has seen a -2.22% fall in stock performance for the week, with a -17.25% decline in the past month and a 8.35% surge in the past quarter. The volatility ratio for the week is 4.57%, and the volatility levels for the past 30 days are at 4.19% for MGNI. The simple moving average for the last 20 days is -8.78% for MGNI stock, with a simple moving average of 3.32% for the last 200 days.
Analysts’ Opinion of MGNI
Many brokerage firms have already submitted their reports for MGNI stocks, with BofA Securities repeating the rating for MGNI by listing it as a “Neutral.” The predicted price for MGNI in the upcoming period, according to BofA Securities is $11 based on the research report published on January 11, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $14, previously predicting the price at $11. The rating they have provided for MGNI stocks is “Outperform” according to the report published on August 16th, 2023.
B. Riley Securities gave a rating of “Buy” to MGNI, setting the target price at $15 in the report published on April 13th of the previous year.
MGNI Trading at -1.09% from the 50-Day Moving Average
After a stumble in the market that brought MGNI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -35.66% of loss for the given period.
Volatility was left at 4.19%, however, over the last 30 days, the volatility rate increased by 4.57%, as shares sank -14.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.07% upper at present.
During the last 5 trading sessions, MGNI fell by -2.22%, which changed the moving average for the period of 200-days by -25.70% in comparison to the 20-day moving average, which settled at $11.01. In addition, Magnite Inc saw 8.35% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGNI starting from BARRETT MICHAEL G., who sale 75,000 shares at the price of $11.21 back on Mar 15 ’24. After this action, BARRETT MICHAEL G. now owns 1,234,662 shares of Magnite Inc, valued at $840,750 using the latest closing price.
Soroca Adam Lee, the CHIEF PRODUCT OFFICER of Magnite Inc, sale 17,245 shares at $11.32 during a trade that took place back on Mar 14 ’24, which means that Soroca Adam Lee is holding 493,467 shares at $195,213 based on the most recent closing price.
Stock Fundamentals for MGNI
Current profitability levels for the company are sitting at:
- -0.24 for the present operating margin
- 0.33 for the gross margin
The net margin for Magnite Inc stands at -0.26. The total capital return value is set at -0.11. Equity return is now at value -21.32, with -5.89 for asset returns.
Based on Magnite Inc (MGNI), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.38. The debt to equity ratio resting at 0.79. The interest coverage ratio of the stock is -4.52.
Currently, EBITDA for the company is 93.28 million with net debt to EBITDA at 2.88. When we switch over and look at the enterprise to sales, we see a ratio of 2.74. The receivables turnover for the company is 0.53for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.09.
Conclusion
To sum up, Magnite Inc (MGNI) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
