Risk-Takers Will Like Magnite Inc. (NASDAQ: MGNI). – Marketing Sentinel
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Risk-Takers Will Like Magnite Inc. (NASDAQ: MGNI).

In today’s recent session, 0.65 million shares of the Magnite Inc. (NASDAQ:MGNI) have been traded, and its beta is 2.17. Most recently the company’s share price was $10.94, and it changed around $0.59 or 5.65% from the last close, which brings the market valuation of the company to $1.31B. MGNI at last check was trading at a discount to its 52-week high of $37.54, offering almost -243.14% off that amount. The share price’s 52-week low was $8.57, which indicates that the recent value has risen by an impressive 21.66% since then. We note from Magnite Inc.’s average daily trading volume that its 3-month average coming to 1.91 million.

Magnite Inc. (NASDAQ:MGNI) trade information

Instantly MGNI has been showing a green trend so far today with a performance of 5.65% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 11.11 on Tuesday, 06/21/22 increased the stock’s daily price by 1.53%. The company’s shares are currently down -40.86% year-to-date, but still up 7.14% over the last five days. On the other hand, Magnite Inc. (NASDAQ:MGNI) is -3.36% up in the 30-day period.

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Magnite Inc. (MGNI) estimates and forecasts

Magnite Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -43.50 percent over the past six months and at a 56.36% annual growth rate that is well above the industry average of 4.10%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 54.50% in revenue this quarter, and will report an increase of 21.40% in the next quarter. The year-over-year growth rate is expected to be 27.80%, up from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $125.4 million in revenue for the current quarter. 8 analysts expect Magnite Inc. to make $132.91 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $100.4 million and $114.1 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 24.90%. Forecasts for the next quarter put sales growth at 16.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.90%.

MGNI Dividends

Magnite Inc.’s next quarterly earnings report is expected to be released around February 03 and February 07.

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

Upon looking at major shareholders, it appears that insiders hold 11.68% of Magnite Inc. shares, and 67.86% of them are in the hands of institutional investors. The stock currently has a share float of 76.83%. Magnite Inc. stock is held by 323 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2021, it held 8.96% of the shares, which is about 11.82 million shares worth $206.89 million.

FMR, LLC, with 7.38% or 9.73 million shares worth $170.28 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Fidelity Advisor Growth Opportunities Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2022. The former held 7.44 million shares worth $108.52 million, making up 5.64% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.58 million shares worth around $62.61 million, which represents about 2.71% of the total shares outstanding.

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