Magnite Inc. [NASDAQ: MGNI] jumped around 0.53 points on Wednesday, while shares priced at $6.41 at the close of the session, up 9.19%.
Magnite Inc. stock is now -21.38% down from its year-to-date (YTD) trading value. MGNI Stock saw the intraday high of $6.60 and lowest of $6.09 per share. The company’s 52-week high price is 13.11, which means current price is +56.85% above from all time high which was touched on 02/20/20.
Compared to the average trading volume of 2.07M shares, MGNI reached a trading volume of 3417927 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Magnite Inc. [MGNI]?
Needham have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2020.
The Average True Range (ATR) for Magnite Inc. is set at 0.46, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 4.46. The Price to Book ratio for the last quarter was 1.95.
How has MGNI stock performed recently?
Magnite Inc. [MGNI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.31. With this latest performance, MGNI shares dropped by -14.81% in over the last four-week period, additionally plugging by 28.04% over the last 6 months – not to mention a drop of -31.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGNI stock in for the last two-week period is set at 45.28, with the RSI for the last a single of trading hit 46.20, and the three-weeks RSI is set at 46.49 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 6.70, while it was recorded at 5.91 for the last single week of trading, and 7.46 for the last 200 days.
Magnite Inc. [MGNI]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Magnite Inc. [MGNI] shares currently have an operating margin of -17.63 and a Gross Margin at +62.17. Magnite Inc.’s Net Margin is presently recorded at -16.29.
Return on Total Capital for MGNI is now -21.85, given the latest momentum, and Return on Invested Capital for the company is -20.78. Return on Equity for this stock declined to -22.16, with Return on Assets sitting at -6.75. When it comes to the capital structure of this company, Magnite Inc. [MGNI] has a Total Debt to Total Equity ratio set at 20.11. Additionally, MGNI Total Debt to Total Capital is recorded at 16.74, with Total Debt to Total Assets ending up at 5.70. Long-Term Debt to Equity for the company is recorded at 13.61, with the Long-Term Debt to Total Capital now at 11.33.
Reflecting on the efficiency of the workforce at the company, Magnite Inc. [MGNI] managed to generate an average of -$57,383 per employee. Receivables Turnover for the company is 0.74 with a Total Asset Turnover recorded at a value of 0.41.Magnite Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Earnings analysis for Magnite Inc. [MGNI]
With the latest financial reports released by the company, Magnite Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 71.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGNI.
Insider trade positions for Magnite Inc. [MGNI]
There are presently around $476 million, or 73.20% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: GRANAHAN INVESTMENT MANAGEMENT INC/MA with ownership of 7,858,116, which is approximately 137.057% of the company’s market cap and around 6.40% of the total institutional ownership; BLACKROCK INC., holding 7,178,303 shares of the stock with an approximate value of $46.05 million in MGNI stocks shares; and VANGUARD GROUP INC, currently with $35.49 million in MGNI stock with ownership of nearly 0.005% of the company’s market capitalization.
Positions in Magnite Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 89 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 19,282,684 shares. Additionally, 122 investors decreased positions by around 19,139,748 shares, while 11 investors held positions by with 35,832,542 shares. The mentioned changes placed institutional holdings at 74,254,974 shares, according to the latest SEC report filing. MGNI stock had 35 new institutional investments in for a total of 5,622,996 shares, while 62 institutional investors sold positions of 8,699,502 shares during the same period.