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The closing price of Magnite Inc (NASDAQ: MGNI) was $13.39 for the day, down -0.78% from the previous closing price of $13.49. In other words, the price has decreased by -$0.78 from its previous closing price. On the day, 0.66 million shares were traded. MGNI stock price reached its highest trading level at $13.98 during the session, while it also had its lowest trading level at $13.4.
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 7.41 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 11.97. 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 the company, BofA Securities on May 24, 2024, Upgraded its rating to Buy and sets its target price to $15 from $13 previously.
On January 11, 2024, BofA Securities started tracking the stock assigning a Neutral rating and target price of $11.BofA Securities initiated its Neutral rating on January 11, 2024, with a $11 target price.
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 Jun 14 ’24 when Saltz Aaron sold 4,778 shares for $13.65 per share. The transaction valued at 65,220 led to the insider holds 317,010 shares of the business.
Evans Katie Seitz sold 14,541 shares of MGNI for $200,230 on Jun 13 ’24. The CHIEF OPERATING OFFICER now owns 408,960 shares after completing the transaction at $13.77 per share. On Jun 12 ’24, another insider, Day David, who serves as the CHIEF FINANCIAL OFFICER of the company, sold 21,299 shares for $14.01 each. As a result, the insider received 298,399 and left with 449,832 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 1907126912 and an Enterprise Value of 2279979264. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.93 while its Price-to-Book (P/B) ratio in mrq is 2.70. Its current Enterprise Value per Revenue stands at 3.569 whereas that against EBITDA is 30.019.
Stock Price History:
Over the past 52 weeks, MGNI has reached a high of $15.73, while it has fallen to a 52-week low of $6.28. The 50-Day Moving Average of the stock is 16.55%, while the 200-Day Moving Average is calculated to be 40.44%.
Shares Statistics:
MGNI traded an average of 1.82M shares per day over the past three months and 1459530 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 73.96% stake in the company. Shares short for MGNI as of 1718323200 were 7111614 with a Short Ratio of 3.91, compared to 1715731200 on 5599295. Therefore, it implies a Short% of Shares Outstanding of 7111614 and a Short% of Float of 5.19.
