Is Magnite Inc (NASDAQ: MGNI) Still On The Rise?

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Yahoo Finance discussed the stock recently as it posted Magnite Announces Closing of New Senior Secured Revolving Credit and Term Loan Facilities.

Stocks Info

This NASDAQ-listed company operates within the Advertising Agencies industry segment, falling under the Communication Services sector. At the end of the last regular session, the stock closed at $9.85 and fluctuated between $10.31 as its day high and $9.74 as its day low. The current market capitalization of Magnite Inc is $1.36B. A total of 1.41 million shares were traded on the day, compared to an average of 934.64K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, MGNI has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 12 BUYs and 42 SELLs from insiders. Insiders purchased 318,158 shares during that period but sold 793,609.

In the most recent transaction, BARRETT MICHAEL G. sold 75,000 shares of MGNI for 7.80 per share on Nov 15. After the transaction, the CEO now owns 1,219,203 company shares. In a previous transaction on Sep 06, Buonasera David sold 5,444 shares at 8.58 per share. MGNI shares that Chief Technology Officer owns now total 207,246.

Among the insiders who sold shares, Spillane Robert F disposed of 25,000 shares on Aug 22 at a per-share price of $8.05. This resulted in the Director holding 94,090 shares of MGNI after the transaction. In another insider transaction, BARRETT MICHAEL G. sold 35,869 shares at $8.31 per share on Aug 16. Company shares held by the CEO now total 1,294,203.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for MGNI in the last 3 months, the mean price target is $12.59 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 $6.28.

As of this writing, MGNI has an earnings estimate of $0.27 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of $0.32 per share and a lower estimate of $0.24. The company reported an EPS of $0.09 in the last quarter, which was 200.00% higher than expectations of $0.03.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its 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 $4.73, 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 4.50.