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The closing price of Magnite Inc (NASDAQ: MGNI) was $14.79 for the day, down -6.63% from the previous closing price of $15.84. In other words, the price has decreased by -$6.63 from its previous closing price. On the day, 3.54 million shares were traded. MGNI stock price reached its highest trading level at $15.625 during the session, while it also had its lowest trading level at $14.78.
Ratios:
Our analysis of MGNI’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 8.19 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 13.22. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10. In the meantime, Its Debt-to-Equity ratio is 0.90 whereas as Long-Term Debt/Eq ratio is at 0.87.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Wolfe Research on July 16, 2024, initiated with a Outperform rating and assigned the stock a target price of $16.
On May 24, 2024, BofA Securities Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $13 to $15.
Insider Transactions:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jul 16 ’24 when Buckley Sean Patrick sold 19,604 shares for $15.50 per share. The transaction valued at 303,862 led to the insider holds 344,011 shares of the business.
BARRETT MICHAEL G. sold 100,000 shares of MGNI for $1,500,000 on Jul 15 ’24. The CEO now owns 1,052,493 shares after completing the transaction at $15.00 per share. On Jul 15 ’24, another insider, Day David, who serves as the CHIEF FINANCIAL OFFICER of the company, sold 19,077 shares for $15.00 each. As a result, the insider received 286,155 and left with 430,755 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, MGNI now has a Market Capitalization of 2216473856 and an Enterprise Value of 2443806976. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.24 while its Price-to-Book (P/B) ratio in mrq is 2.98. Its current Enterprise Value per Revenue stands at 3.825 whereas that against EBITDA is 32.177.
Stock Price History:
Over the past 52 weeks, MGNI has reached a high of $15.92, while it has fallen to a 52-week low of $6.28. The 50-Day Moving Average of the stock is 19.10%, while the 200-Day Moving Average is calculated to be 50.49%.
Shares Statistics:
MGNI traded an average of 1.90M shares per day over the past three months and 1810830 shares per day over the past ten days. A total of 138.58M shares are outstanding, with a floating share count of 122.53M. Insiders hold about 12.49% of the company’s shares, while institutions hold 74.02% stake in the company. Shares short for MGNI as of 1719532800 were 6641483 with a Short Ratio of 3.49, compared to 1717113600 on 6261288. Therefore, it implies a Short% of Shares Outstanding of 6641483 and a Short% of Float of 4.8499998.
