Magnite Inc. (NASDAQ:MGNI) Is Down -12.94% Over The Past 30 Days: Could Trouble Be Ahead? – Marketing Sentinel
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Magnite Inc. (NASDAQ:MGNI) Is Down -12.94% Over The Past 30 Days: Could Trouble Be Ahead?

In last trading session, Magnite Inc. (NASDAQ:MGNI) saw 1.73 million shares changing hands with its beta currently measuring 2.23. Company’s recent per share price level of $15.14 trading at -$0.46 or -2.95% at ring of the bell on the day assigns it a market valuation of $2.03B. That closing price of MGNI’s stock is at a discount of -325.3% from its 52-week high price of $64.39 and is indicating a premium of 4.1% from its 52-week low price of $14.52. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.8 million shares which gives us an average trading volume of 2.25 million if we extend that period to 3-months.

Magnite Inc. (NASDAQ:MGNI) trade information

Upright in the red during last session for losing -2.95%, in the last five days MGNI remained trading in the red while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $15.14 price level, adding 9.93% to its value on the day. Magnite Inc.’s shares saw a change of -13.49% in year-to-date performance and have moved -3.38% in past 5-day. Magnite Inc. (NASDAQ:MGNI) showed a performance of -12.94% in past 30-days. Number of shares sold short was 9.59 million shares which calculate 4.27 days to cover the short interests.

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Magnite Inc. (MGNI) estimates and forecasts

Statistics highlight that Magnite Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -46.93% of value to its shares in past 6 months, showing an annual growth rate of 247.06% while that of industry is -1.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 26.30% in the current quarter and calculating 66.70% increase in the next quarter. This year revenue growth is estimated to rise 89.90% from the last financial year’s standing.

8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $140.27 million for the same. And 6 analysts are in estimates of company making revenue of $106.7 million in the next quarter that will end on Mar 2022. Company posted $82 million and $60.72 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 71.10% while estimating it to be 75.70% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -1.02% during past 5 years.

MGNI Dividends

Magnite Inc. is more likely to be releasing its next quarterly report between February 03 and February 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Magnite Inc. (NASDAQ:MGNI)’s Major holders

Insiders are in possession of 12.12% of company’s total shares while institution are holding 68.64 percent of that, with stock having share float percentage of 78.10%. Investors also watch the number of corporate investors in a company very closely, which is 68.64% institutions for Magnite Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at MGNI for having 11.73 million shares of worth $328.52 million. And as of Sep 29, 2021, it was holding 8.94% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 8.92 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 6.80% of outstanding shares, having a total worth of $249.88 million.

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On the other hand, Fidelity Advisor Growth Opportunities Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 6.69 million shares of worth $180.87 million or 5.10% of the total outstanding shares. The later fund manager was in possession of 3.51 million shares on Sep 29, 2021, making its stake of worth around $98.21 million in the company or a holder of 2.67% of company’s stock.

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