Magnite Inc (NASDAQ:MGNI)’s traded shares stood at 0.36 million during the latest session, with the company’s beta value hitting 2.73. At the last check today, the stock’s price was $9.41, to imply a decrease of -3.34% or -$0.33 in intraday trading. The MGNI share’s 52-week high remains $21.29, putting it -126.25% down since that peak but still an impressive 12.65% since price per share fell to its 52-week low of $8.22. The company has a valuation of $1.35B, with an average of 3.21 million shares in intraday trading volume over the past 10 days and average of 2.76 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Magnite Inc (MGNI), translating to a mean rating of 1.17. Of 10 analyst(s) looking at the stock, 0 analyst(s) give MGNI a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 10 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.06.
Magnite Inc (NASDAQ:MGNI) trade information
After registering a -3.34% downside in the latest session, Magnite Inc (MGNI) has traded red over the past five days. The 5-day price performance for the stock is 3.69%, and -22.06% over 30 days. With these gigs, the year-to-date price performance is -40.86%. Short interest in Magnite Inc (NASDAQ:MGNI) saw shorts transact 12.17 million shares and set a 4.05 days time to cover.
The extremes give us $19 and $22 for target low and target high price respectively. As such, MGNI has been trading -133.79% off suggested target high and -101.91% from its likely low.
Magnite Inc (MGNI) estimates and forecasts
The rating firms project that company’s revenue will grow 9.54% compared to the previous financial year.
Revenue forecast for the current quarter as set by 8 analysts is 142.18M. Meanwhile, for the current quarter, a total of 8 analyst(s) estimate revenue growth to 161.01M.Earnings reports from the last fiscal year show that sales brought in 130.55M and 146.76M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.91% before jumping 9.71% in the following quarter.
MGNI Dividends
Magnite Inc has its next earnings report out on 2025-Feb-25. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Magnite Inc (NASDAQ:MGNI)’s Major holders
Magnite Inc insiders hold 1.82% of total outstanding shares, with institutional holders owning 89.05% of the shares at 90.70% float percentage. In total, 89.05% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 12.96 million shares (or 9.3069% of shares), all amounting to roughly $172.3 million.
The next major institution holding the largest number of shares is BLACKROCK INC. with 9.7 million shares, or about 6.9011% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $128.91 million.
We also have SMALLCAP WORLD FUND INC and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Magnite Inc (MGNI) shares. Going by data provided on Dec 31, 2024 , SMALLCAP WORLD FUND INC holds roughly 6.92 shares. This is just over 4.84% of the total shares, with a market valuation of $65.44 million. Data from the same date shows that the other fund manager holds a little less at 4.12, or 2.88% of the shares, all valued at about 38.94 million.
