Magnite Inc. [MGNI] fell -13.90% so far this year. What now?

Magnite Inc. [NASDAQ: MGNI] gained 0.92% or 0.24 points to close at $26.44 with a heavy trading volume of 3221407 shares. The company report on May 18, 2021 that Scripps Selects Magnite as Preferred CTV SSP.

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The media company will make its programmatic CTV, OLV and display inventory available to buyers via Magnite.

Magnite (NASDAQ: MGNI), the world’s largest independent omnichannel sell-side advertising platform, announced The E.W. Scripps Company (NASDAQ: SSP) has selected Magnite to serve as the company’s preferred sell-side platform (SSP) across its connected TV inventory. Scripps also will leverage the Magnite platform to give buyers access to its programmatic inventory across all channels.

It opened the trading session at $25.33, the shares rose to $27.25 and dropped to $25.16, the range by which the price of stock traded the whole day. The daily chart for MGNI points out that the company has recorded 135.86% gains over the past six months. However, it is still -435.22% lower than its most recent low trading price.

If we look at the average trading volume of 3.44M shares, MGNI reached to a volume of 3221407 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]:

Evercore ISI have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on April 06, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Neutral. The new note on the price target was released on January 28, 2021, representing the official price target for Magnite Inc. stock. Previously, the target price had yet another raise from $12 to $37, while Truist kept a Hold rating on MGNI stock. On January 22, 2021, analysts increased their price target for MGNI shares from 25 to 45.

The Average True Range (ATR) for Magnite Inc. is set at 2.78, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 15.09. The Price to Book ratio for the last quarter was 8.90, with the Price to Cash per share for the same quarter was set at 3.70.

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 1.11. With this latest performance, MGNI shares dropped by -24.76% in over the last four-week period, additionally plugging by 135.86% over the last 6 months – not to mention a rise of 420.47% 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 33.20, with the RSI for the last a single of trading hit 31.63, and the three-weeks RSI is set at 36.12 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 38.72, while it was recorded at 25.55 for the last single week of trading, and 25.53 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 -16.55 and a Gross Margin at +58.44. Magnite Inc.’s Net Margin is presently recorded at -24.11.

Return on Total Capital for MGNI is now -13.14, given the latest momentum, and Return on Invested Capital for the company is -19.75. Return on Equity for this stock declined to -21.65, with Return on Assets sitting at -8.01. When it comes to the capital structure of this company, Magnite Inc. [MGNI] has a Total Debt to Total Equity ratio set at 11.03. Additionally, MGNI Total Debt to Total Capital is recorded at 9.93, with Total Debt to Total Assets ending up at 4.48. Long-Term Debt to Equity for the company is recorded at 8.46, with the Long-Term Debt to Total Capital now at 7.62.

Reflecting on the efficiency of the workforce at the company, Magnite Inc. [MGNI] managed to generate an average of -$93,905 per employee. Receivables Turnover for the company is 0.64 with a Total Asset Turnover recorded at a value of 0.33.Magnite Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

Magnite Inc. [MGNI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Magnite Inc. posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.60%. 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 $2,258 million, or 57.50% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: BLACKROCK INC. with ownership of 8,674,069, which is approximately 8.02% of the company’s market cap and around 3.70% of the total institutional ownership; VANGUARD GROUP INC, holding 7,791,387 shares of the stock with an approximate value of $206.0 million in MGNI stocks shares; and NUVEEN ASSET MANAGEMENT, LLC, currently with $187.08 million in MGNI stock with ownership of nearly 639.086% of the company’s market capitalization.

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Positions in Magnite Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 158 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 27,947,900 shares. Additionally, 132 investors decreased positions by around 19,186,965 shares, while 22 investors held positions by with 38,284,710 shares. The mentioned changes placed institutional holdings at 85,419,575 shares, according to the latest SEC report filing. MGNI stock had 80 new institutional investments in for a total of 2,670,339 shares, while 36 institutional investors sold positions of 1,278,410 shares during the same period.

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