In the last trading session, 1.8 million shares of the Magnite Inc (NASDAQ:MGNI) were traded, and its beta was 2.75. Most recently the company’s share price was $9.68, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $1.38B. MGNI currently trades at a discount to its 52-week high of $21.29, offering almost -119.94% off that amount. The share price’s 52-week low was $8.22, which indicates that the current value has risen by an impressive 15.08% since then. We note from Magnite Inc’s average daily trading volume that its 10-day average is 2.97 million shares, with the 3-month average coming to 2.75 million.
Magnite Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.17. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended MGNI as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Magnite Inc is expected to report earnings per share of 0.06 for the current quarter.
Magnite Inc (NASDAQ:MGNI) trade information
The performance over the last five days has remained in the green territory. The rise to weekly highs of 11.40 on recent trading dayincreased the stock’s daily price by 15.09%. The company’s shares are currently down -39.20% year-to-date, but still up 5.79% over the last five days. On the other hand, Magnite Inc (NASDAQ:MGNI) is -23.17% down in the 30-day period. We can see from the shorts that 13.06 million shares have been sold at a short interest cover period of 4.54 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to increase their stock price by 51.6% 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
The year-over-year growth rate is expected to be 9.54%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 142.18M in revenue for the current quarter. 8 analysts expect Magnite Inc to make 161.01M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 130.55M and 146.76M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 8.91%. Forecasts for the next quarter put sales growth at 9.71%.
MGNI Dividends
Magnite Inc’s next quarterly earnings report is expected to be released on 2025-Feb-25.
Magnite Inc (NASDAQ:MGNI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.82% of Magnite Inc shares, and 89.79% of them are in the hands of institutional investors. The stock currently has a share float of 91.46%. Magnite Inc stock is held by 402.0 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 6.9011% or 9.7 million shares worth $128.91 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
SMALLCAP WORLD FUND INC and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 31, 2024 . The former held 6.92 shares worth $66.96 million, making up 4.84% of all outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held roughly 4.12 shares worth around $39.85 million, which represents about 2.88% of the total shares outstanding.
