Currently, there are 138.58M common shares owned by the public and among those 124.01M shares have been available to trade.
The company’s stock has a 5-day price change of 2.66% and -5.34% over the past three months. MGNI shares are trading 40.47% year to date (YTD), with the 12-month market performance up to 62.78% higher. It has a 12-month low price of $6.28 and touched a high of $15.92 over the same period. MGNI has an average intraday trading volume of 1.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.02%, -4.29%, and 17.43% respectively.
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Institutional ownership of Magnite Inc (NASDAQ: MGNI) shares accounts for 74.89% of the company’s 138.58M shares outstanding.
It has a market capitalization of $1.85B and a beta (3y monthly) value of 2.41. The earnings-per-share (ttm) stands at -$0.05. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.56% over the week and 4.10% over the month.
Earnings per share for the fiscal year are expected to increase by 38.19%, and 22.74% over the next financial year.
Looking at the support for the MGNI, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on July 25, 2024, with the firm’s price target at $21. Wolfe Research coverage for the Magnite Inc (MGNI) stock in a research note released on July 16, 2024 offered a Outperform rating with a price target of $16. BofA Securities was of a view on May 24, 2024 that the stock is Buy, while B. Riley Securities gave the stock Buy rating on April 19, 2024, issuing a price target of $14.50. BofA Securities on their part issued Neutral rating on January 11, 2024.
