Market cap of Magnite Inc. [MGNI] reaches 4.46B – now what?

Magnite Inc. [NASDAQ: MGNI] jumped around 0.23 points on Thursday, while shares priced at $33.50 at the close of the session, up 0.69%. The company report on July 8, 2021 that Magnite to Announce Second Quarter 2021 Financial Results on August 5, 2021.

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Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will announce its financial results for the quarter ended June 30, 2021 after the market close on Thursday, August 5, 2021. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook.

Live conference call.

Magnite Inc. stock is now 9.08% up from its year-to-date (YTD) trading value. MGNI Stock saw the intraday high of $33.72 and lowest of $30.70 per share. The company’s 52-week high price is 64.39, which means current price is +47.90% above from all time high which was touched on 02/09/21.

Compared to the average trading volume of 2.67M shares, MGNI reached a trading volume of 2042793 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGNI shares is $45.88 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 1.90. 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.

Truist have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 07, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to In-line. The new note on the price target was released on April 06, 2021, representing the official price target for Magnite Inc. stock. Previously, the target price had yet another raise to $40, while B. Riley Securities analysts kept a Neutral rating on MGNI stock. On January 25, 2021, analysts increased their price target for MGNI shares from 12 to 37.

The Average True Range (ATR) for Magnite Inc. is set at 2.13, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 18.14. The Price to Book ratio for the last quarter was 11.28, with the Price to Cash per share for the same quarter was set at 3.52.

How has MGNI stock performed recently?

Magnite Inc. [MGNI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.00. With this latest performance, MGNI shares gained by 1.48% in over the last four-week period, additionally plugging by 22.67% over the last 6 months – not to mention a rise of 394.10% 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 51.16, with the RSI for the last a single of trading hit 49.84, and the three-weeks RSI is set at 50.52 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 31.98, while it was recorded at 33.88 for the last single week of trading, and 29.80 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 -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.

Insider trade positions for Magnite Inc. [MGNI]

There are presently around $2,867 million, or 67.00% 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 $261.01 million in MGNI stocks shares; and NUVEEN ASSET MANAGEMENT, LLC, currently with $237.03 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 August and at the time of the August reporting period, where 157 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 28,046,778 shares. Additionally, 132 investors decreased positions by around 18,932,695 shares, while 23 investors held positions by with 38,599,919 shares. The mentioned changes placed institutional holdings at 85,579,392 shares, according to the latest SEC report filing. MGNI stock had 79 new institutional investments in for a total of 2,789,554 shares, while 35 institutional investors sold positions of 1,024,110 shares during the same period.

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