In the past week, MGNI stock has gone up by 7.59%, with a monthly decline of -11.61% and a quarterly surge of 19.41%. The volatility ratio for the week is 3.08%, and the volatility levels for the last 30 days are 5.32% for Magnite Inc The simple moving average for the last 20 days is 0.47% for MGNI stock, with a simple moving average of 27.00% for the last 200 days.
Is It Worth Investing in Magnite Inc (NASDAQ: MGNI) Right Now?
Additionally, the 36-month beta value for MGNI is 2.41. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for MGNI is 123.53M and currently, short sellers hold a 6.03% ratio of that float. The average trading volume of MGNI on August 20, 2024 was 1.85M shares.
MGNI) stock’s latest price update
The stock of Magnite Inc (NASDAQ: MGNI) has increased by 2.90 when compared to last closing price of 13.09. Despite this, the company has experienced a 7.59% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-08-15 that Democratic campaigns, agencies, and causes can utilize TargetSmart data at scale across premium content WASHINGTON, Aug. 15, 2024 /PRNewswire/ — TargetSmart, the leading provider of political data for Democratic campaigns and advocacy organizations, announced an exclusive partnership with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company. This collaboration, supported by Magnite’s integration with Snowflake AI Data Cloud for Media, enables Democratic campaigns, agencies, and causes to immediately activate campaigns using TargetSmart data across Magnite’s expansive CTV footprint on any demand side platform.
Analysts’ Opinion of MGNI
Many brokerage firms have already submitted their reports for MGNI stocks, with Lake Street repeating the rating for MGNI by listing it as a “Buy.” The predicted price for MGNI in the upcoming period, according to Lake Street is $21 based on the research report published on July 25, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $16. The rating they have provided for MGNI stocks is “Outperform” according to the report published on July 16th, 2024.
BofA Securities gave a rating of “Buy” to MGNI, setting the target price at $15 in the report published on May 24th of the current year.
MGNI Trading at -1.17% 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 -15.39% of loss for the given period.
Volatility was left at 5.32%, however, over the last 30 days, the volatility rate increased by 3.08%, as shares sank -13.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.59% upper at present.
During the last 5 trading sessions, MGNI rose by +5.95%, which changed the moving average for the period of 200-days by +99.77% in comparison to the 20-day moving average, which settled at $13.30. In addition, Magnite Inc saw 44.22% 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 ADAM SOROCA, who proposed sale 7,910 shares at the price of $12.59 back on Aug 19 ’24. After this action, ADAM SOROCA now owns shares of Magnite Inc, valued at $99,554 using the latest closing price.
SEAN P BUCKLEY, the Officer of Magnite Inc, proposed sale 2,623 shares at $12.53 during a trade that took place back on Aug 19 ’24, which means that SEAN P BUCKLEY is holding shares at $32,866 based on the most recent closing price.
Stock Fundamentals for MGNI
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.55 for the gross margin
The net margin for Magnite Inc stands at -0.01. The total capital return value is set at 0.01. Equity return is now at value -0.79, with -0.21 for asset returns.
Based on Magnite Inc (MGNI), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at 0.35. The debt to equity ratio resting at 0.8. The interest coverage ratio of the stock is 0.43.
Currently, EBITDA for the company is 93.28 million with net debt to EBITDA at 3.02. When we switch over and look at the enterprise to sales, we see a ratio of 3.38. The receivables turnover for the company is 0.58for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.10.
Conclusion
In conclusion, Magnite Inc (MGNI) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
