Magnite Inc. [NASDAQ: MGNI] gained 5.06% or 0.51 points to close at $10.59 with a heavy trading volume of 3398027 shares. The company report on October 29, 2020 that Magnite’s Demand Manager Mobile Brings Unified Auction Efficiency to Mobile App Publishers.
Mediahuis Nederland, Impala Studios and Slickdeals among first publishers to adopt Demand Manager Mobile.
Magnite (NASDAQ: MGNI), the largest independent omnichannel sell-side advertising platform, officially introduces Demand Manager Mobile. Mediahuis Nederland, Impala Studios and Slickdeals are among the first clients to integrate Demand Manager Mobile.
It opened the trading session at $10.21, the shares rose to $10.72 and dropped to $10.21, the range by which the price of stock traded the whole day. The daily chart for MGNI points out that the company has recorded 67.03% gains over the past six months. However, it is still -158.92% lower than its most recent low trading price.
If we look at the average trading volume of 2.29M shares, MGNI reached to a volume of 3398027 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Magnite Inc. [MGNI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGNI shares is $10.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGNI stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 29, 2020. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on September 03, 2020, representing the official price target for Magnite Inc. stock.
The Average True Range (ATR) for Magnite Inc. is set at 0.61, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 7.60. The Price to Book ratio for the last quarter was 3.22.
Trading performance analysis for MGNI stock
Magnite Inc. [MGNI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.29. With this latest performance, MGNI shares gained by 27.74% in over the last four-week period, additionally plugging by 67.03% over the last 6 months – not to mention a rise of 24.59% 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 68.17, with the RSI for the last a single of trading hit 70.36, and the three-weeks RSI is set at 66.16 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 7.82, while it was recorded at 9.66 for the last single week of trading, and 7.36 for the last 200 days.
Magnite Inc. [MGNI]: A deeper dive into fundamental analysis
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.
Magnite Inc. [MGNI]: An earnings per share (EPS) analysis
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.
An analysis of insider ownership at Magnite Inc. [MGNI]
There are presently around $796 million, or 69.30% 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 5.40% of the total institutional ownership; BLACKROCK INC., holding 7,178,303 shares of the stock with an approximate value of $76.02 million in MGNI stocks shares; and VANGUARD GROUP INC, currently with $58.59 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 90 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 19,545,541 shares. Additionally, 112 investors decreased positions by around 17,734,201 shares, while 16 investors held positions by with 37,888,848 shares. The mentioned changes placed institutional holdings at 75,168,590 shares, according to the latest SEC report filing. MGNI stock had 35 new institutional investments in for a total of 5,388,545 shares, while 58 institutional investors sold positions of 7,712,155 shares during the same period.