The stock of Magnite Inc (MGNI) has seen a 3.73% increase in the past week, with a -9.60% drop in the past month, and a -13.89% decrease in the past quarter. The volatility ratio for the week is 5.04%, and the volatility levels for the past 30 days are at 4.44% for MGNI. The simple moving average for the last 20 days is 2.23% for MGNI’s stock, with a simple moving average of 6.77% for the last 200 days.
Is It Worth Investing in Magnite Inc (NASDAQ: MGNI) Right Now?
Company’s 36-month beta value is 2.42.Analysts have differing opinions on the stock, with 10 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MGNI is 124.01M, and currently, short sellers hold a 7.13% ratio of that floaft. The average trading volume of MGNI on October 30, 2024 was 1.72M shares.
MGNI) stock’s latest price update
Magnite Inc (NASDAQ: MGNI)’s stock price has gone decline by -2.19 in comparison to its previous close of 12.80, however, the company has experienced a 3.73% increase in its stock price over the last five trading days. globenewswire.com reported 2024-10-28 that NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) — Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, today announced that members of its executive team will participate in the following financial conferences:
Analysts’ Opinion of MGNI
Lake Street, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $21. The rating they have provided for MGNI stocks is “Buy” according to the report published on July 25th, 2024.
Wolfe Research gave a rating of “Outperform” to MGNI, setting the target price at $16 in the report published on July 16th of the current year.
MGNI Trading at -3.28% 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 -21.36% of loss for the given period.
Volatility was left at 4.44%, however, over the last 30 days, the volatility rate increased by 5.04%, as shares surge +1.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.35% lower at present.
During the last 5 trading sessions, MGNI rose by +3.73%, which changed the moving average for the period of 200-days by +36.83% in comparison to the 20-day moving average, which settled at $12.25. In addition, Magnite Inc saw 34.05% 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 Buckley Sean Patrick, who sale 2,623 shares at the price of $13.50 back on Aug 20 ’24. After this action, Buckley Sean Patrick now owns 329,119 shares of Magnite Inc, valued at $35,410 using the latest closing price.
Buckley Sean Patrick, the CHIEF REVENUE OFFICER of Magnite Inc, sale 2,623 shares at $12.53 during a trade that took place back on Aug 19 ’24, which means that Buckley Sean Patrick is holding 331,742 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 3.18. 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 a nutshell, Magnite Inc (MGNI) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
