In the latest trading session,, 0.46 million Magnite Inc (NASDAQ:MGNI) shares changed hands as the company’s beta touched 2.65. With the company’s most recent per share price at $9.16 changing hands around $0.16 or 1.75% at last look, the market valuation stands at $1.31B. MGNI’s current price is a discount, trading about -132.42% off its 52-week high of $21.29. The share price had its 52-week low at $8.22, which suggests the last value was 10.26% up since then. When we look at Magnite Inc’s average trading volume, we note the 10-day average is 2.94 million shares, with the 3-month average coming to 2.73 million.
Analysts gave the Magnite Inc (MGNI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.17. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended MGNI as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Magnite Inc’s EPS for the current quarter is expected to be 0.06.
Magnite Inc (NASDAQ:MGNI) trade information
Instantly MGNI is in green as seen in intraday trades today. With action -20.44%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -42.48%, with the 5-day performance at -20.44% in the red. However, in the 30-day time frame, Magnite Inc (NASDAQ:MGNI) is -26.26% down. Looking at the short shares, we see there were 12.17 million shares sold at short interest cover period of 4.05 days.
The consensus price target for the stock as assigned by Wall Street analysts is 20, meaning bulls need an upside of 54.2% from its recent market value. According to analyst projections, MGNI’s forecast low is 19 with 22 as the target high. To hit the forecast high, the stock’s price needs a -140.17% plunge from its current level, while the stock would need to soar -107.42% for it to hit the projected low.
Magnite Inc (MGNI) estimates and forecasts
Year-over-year growth is forecast to reach 9.54% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of 142.18M. 8 analysts are of the opinion that Magnite Inc’s revenue for the current quarter will be 161.01M. The company’s revenue for the corresponding quarters a year ago was 130.55M and 146.76M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.91%. The estimates for the next quarter sales put growth at 9.71%.
The 2025 estimates are for Magnite Inc earnings to increase by 29.40%.
Magnite Inc (NASDAQ:MGNI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.82% of Magnite Inc shares while 89.05% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.70%. There are 89.05% institutions holding the Magnite Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 9.3069% of the shares, roughly 12.96 million MGNI shares worth $172.3 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 6.9011% or 9.7 million shares worth $128.91 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were SMALLCAP WORLD FUND INC and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund . With 6.92 shares estimated at $62.16 million under it, the former controlled 4.84% of total outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held about 2.88% of the shares, roughly 4.12 shares worth around $36.99 million.
