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Wednesday, February 1, 2023

Are Things Looking Up For Magnite Inc. (NASDAQ: MGNI)?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Magnite Inc. (MGNI) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.03, or -0.29%, to $10.20. The Magnite Inc. has recorded 41,949 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Criteo Announces Preferred Relationship with Magnite to Extend Retailer Audiences into CTV.

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Stocks Info

The company is listed on the NASDAQ and operates within the Advertising Agencies industry segment. At the end of the last regular session, the stock closed at $10.23 and fluctuated between $10.35 as its day high and $9.50 as its day low. The current market capitalization of Magnite Inc. is $1.30B. A total of 1.43 million shares were traded on the day, compared to an average of 1.90M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, MGNI has seen 0 BUY and 9 SELL insider trades, representing the acquisition of 0 and the disposition of 141,857 shares. Over the last 12 months, there were 23 BUYs and 39 SELLs from insiders. Insiders purchased 1,027,958 shares during that period but sold 392,697.

In the most recent transaction, BARRETT MICHAEL G. sold 75,000 shares of MGNI for 11.58 per share on Nov 15. After the transaction, the CEO now owns 1,430,236 company shares. In a previous transaction on May 11, Lam Rachel bought 2,500 shares at 9.00 per share. MGNI shares that Director owns now total 186,763.

Among the insiders who sold shares, Evans Katie Seitz disposed of 15,805 shares on Apr 06 at a per-share price of $13.13. This resulted in the Chief Operating Officer holding 393,276 shares of MGNI after the transaction. In another insider transaction, Lam Rachel bought 2,500 shares at $12.81 per share on Mar 03. Company shares held by the Director now total 184,263.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for MGNI in the last 3 months, the mean price target is $14.25 with high estimates of $17.00 and low estimates of $11.00. In terms of 52-week highs and lows, MGNI has a high of $16.81 and a low of $5.59.

As of this writing, MGNI has an earnings estimate of $0.14 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of $0.22 per share and a lower estimate of $0.07.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 11 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MGNI is Hold with a score of 4.67. A total of 9 analysts rated the stock as Buy while 1 rated it as Overweight while 1 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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