Magnite Inc (NASDAQ: MGNI) on Friday, plunged -4.86% from the previous trading day, before settling in for the closing price of $16.66. Within the past 52 weeks, MGNI’s price has moved between $7.57 and $17.00.
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Annual sales at Communication Services sector company grew by 41.82% over the past five years. The company achieved an average annual earnings per share of 40.87%. With a float of $135.94 million, this company’s outstanding shares have now reached $138.58 million.
Let’s look at the performance matrix of the company that is accounted for 911 employees. In terms of profitability, gross margin is 59.21%, operating margin of 6.96%, and the pretax margin is 2.63%.
Magnite Inc (MGNI) Insider and Institutional Ownership
Observing investor behavior towards Advertising Agencies industry stocks is more important than anything else. The insider ownership of Magnite Inc is 12.17%, while institutional ownership is 87.26%. The most recent insider transaction that took place on Nov 14 ’24, was worth 203,681. In this transaction CHIEF TECHNOLOGY OFFICER of this company sold 12,412 shares at a rate of $16.41, taking the stock ownership to the 240,403 shares. Before that another transaction happened on Nov 14 ’24, when Company’s Officer proposed sale 12,412 for $16.41, making the entire transaction worth $203,727.
Magnite Inc (MGNI) Latest Financial update
As on 9/30/2024, Multinational firm has announced its last quarter scores, in which it reported 0.29 earnings per share (EPS) for the period topping the consensus outlook (set at 0.28) by 0.01. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.06 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 40.87% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 37.05% during the next five years compared to 1.08% growth over the previous five years of trading.
Magnite Inc (NASDAQ: MGNI) Trading Performance Indicators
Magnite Inc (MGNI) is currently performing well based on its current performance indicators. A quick ratio of 1.11 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 3.21. Likewise, its price to free cash flow for the trailing twelve months is 12.42.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.11, a number that is poised to hit 0.39 in the next quarter and is forecasted to reach 0.92 in one year’s time.
Technical Analysis of Magnite Inc (MGNI)
Magnite Inc (NASDAQ: MGNI) saw its 5-day average volume 3.48 million, a positive change from its year-to-date volume of 1.64 million. As of the previous 9 days, the stock’s Stochastic %D was 88.55%. Additionally, its Average True Range was 0.76.
During the past 100 days, Magnite Inc’s (MGNI) raw stochastic average was set at 82.68%, which indicates a significant increase from 76.63% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 71.87% in the past 14 days, which was higher than the 51.59% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $13.08, while its 200-day Moving Average is $12.05. Nevertheless, the first resistance level for the watch stands at $16.37 in the near term. At $16.89, the stock is likely to face the second major resistance level. The third major resistance level sits at $17.20. If the price goes on to break the first support level at $15.54, it is likely to go to the next support level at $15.23. The third support level lies at $14.71 if the price breaches the second support level.
Magnite Inc (NASDAQ: MGNI) Key Stats
Market capitalization of the company is 2.12 billion based on 140,690K outstanding shares. Right now, sales total 619,710 K and income totals -159,180 K. The company made 162,000 K in profit during its latest quarter, and 5,210 K in sales during its previous quarter.
