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Wednesday, December 6, 2023

Analyst Expects Magnite Inc (NASDAQ: MGNI) To Make Big Moves

After Hours

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. After-hours trades for Magnite Inc (MGNI) shows that investor sentiment remained same, with the stock’s consolidated last price to $7.40. The Magnite Inc has recorded 23,272 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed As MFA Issues Puts Programmatic Curation Center Stage, Omnicom Media Group’s SSP Standardization Initiative Assures Premium Inventory That Delivers on Value and Values Mandates.

Stocks Info

As a NASDAQ listed company, MGNI falls under the Communication Services sector while operating within the Advertising Agencies industry segment. At the end of the last regular session, the stock closed at $7.40 and fluctuated between $7.51 as its day high and $7.22 as its day low. The current market capitalization of Magnite Inc is $1.01B. A total of 1.33 million shares were traded on the day, compared to an average of 1.63M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, MGNI has seen 0 BUY and 11 SELL insider trades, representing the acquisition of 0 and the disposition of 176,925 shares. Over the last 12 months, there were 19 BUYs and 52 SELLs from insiders. Insiders purchased 1,079,043 shares during that period but sold 932,563.

In the most recent transaction, Buonasera David sold 5,444 shares of MGNI for 8.58 per share on Sep 06. After the transaction, the Chief Technology Officer now owns 207,246 company shares. In a previous transaction on Aug 22, Spillane Robert F sold 25,000 shares at 8.05 per share. MGNI shares that Director owns now total 94,090.

Among the insiders who sold shares, BARRETT MICHAEL G. disposed of 35,869 shares on Aug 16 at a per-share price of $8.31. This resulted in the CEO holding 1,294,203 shares of MGNI after the transaction. In another insider transaction, Day David sold 9,078 shares at $8.31 per share on Aug 16. Company shares held by the Chief Financial Officer now total 415,866.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for MGNI in the last 3 months, the mean price target is $13.95 with high estimates of $16.00 and low estimates of $8.50. In terms of 52-week highs and lows, MGNI has a high of $15.73 and a low of $5.59.

As of this writing, MGNI has an earnings estimate of $0.08 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of $0.12 per share and a lower estimate of -$0.02. The company reported an EPS of $0.04 in the last quarter, which was 200.00% higher than expectations of -$0.04.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. MGNI’s latest balance sheet shows that the firm has $230.40M in Cash & Short Term Investments as of fiscal 2021. There were $809.25M in debt and $1.03B in liabilities at the time. Its Book Value Per Share was $4.77, while its Total Shareholder’s Equity was $880.76M.

Analysts Opinion

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. Currently, 0 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 Buy with a score of 4.75.

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