In today’s recent session, 0.52 million shares of the Magnite Inc (NASDAQ:MGNI) have been traded, and its beta is 2.77. Most recently the company’s share price was $20.49, and it changed around -$0.13 or -0.63% from the last close, which brings the market valuation of the company to $2.88B. MGNI at last check was trading at a discount to its 52-week high of $21.29, offering almost -3.9% off that amount. The share price’s 52-week low was $8.38, which indicates that the recent value has risen by an impressive 59.1% since then. We note from Magnite Inc’s average daily trading volume that its 10-day average is 3.0 million shares, with the 3-month average coming to 2.03 million.
Magnite Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.14. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended MGNI as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight.
Magnite Inc (NASDAQ:MGNI) trade information
Instantly MGNI has been showing red trend so far today with a performance of -0.63% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 21.29 on recent trading dayincreased the stock’s daily price by 3.76%. The company’s shares are currently up 28.71% year-to-date, but still up 15.70% over the last five days. On the other hand, Magnite Inc (NASDAQ:MGNI) is 31.26% up in the 30-day period. We can see from the shorts that 8.77 million shares have been sold at a short interest cover period of 5.74 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to decrease their stock price by -2.45% from its current value. Analyst projections state that MGNI is forecast to be at a low of $19 and a high of $22.
Magnite Inc (MGNI) estimates and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 1.08%. Magnite Inc earnings are expected to increase by 40.59% in 2025, but the outlook is positive 28.98% per year for the next five years.
Magnite Inc (NASDAQ:MGNI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.34% of Magnite Inc shares, and 93.44% of them are in the hands of institutional investors. The stock currently has a share float of 95.68%. Magnite Inc stock is held by 396.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.3069% of the shares, which is about 12.96 million shares worth $172.3 million.
BLACKROCK INC., with 6.9633% or 9.7 million shares worth $128.91 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024 . The former held 4.16 shares worth $86.03 million, making up 2.96% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.52 shares worth around $72.86 million, which represents about 2.50% of the total shares outstanding.
