Magnite Inc. (MGNI) touched a new high 4 times within the past 5 days.


Magnite Inc. (NASDAQ:MGNI) saw a downside of -5.79% to $9.92 after subtracting -$0.61 on Wednesday. The 5-day average trading volume is 1,247,767 shares of the company’s common stock. It has gained $10.89 in the past week and touched a new high 4 times within the past 5 days. An average of 1,445,557 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,834,781.

MGNI’s 1-month performance is -6.90% or -$0.76 on its low of $9.12 reached on 01/19/23. The company’s shares have touched a 52-week low of $5.59 and high of $14.96, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, MGNI has lost -0.57% or -$0.67 and has reached a new high 1 time. However, the current price is down -33.69% from the 52-week high price.

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Insider Transactions

MGNI stock investors last saw insider trading activity on Nov 15.BARRETT MICHAEL G. (CEO) most recently sold 75,000 shares at $11.58 per share on Nov 15. This transaction cost the insider $868,486. Chief Operating Officer, Evans Katie Seitz, sold 15,805 shares at a price of $13.13 on Apr 06. Then, on Feb 15, Chief Product Officer Soroca Adam Lee sold 5,000 shares at a price of $13.66 per share. This transaction amounted to $68,300.

Valuation Metrics

MGNI stock has a beta of 2.16. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.36 while the price-to-book (PB) in the most recent quarter is 1.73, with the price to cash flow ratio at 8.82.

Magnite Inc.’s quick ratio for the period ended September 29 was 1.20, with the current ratio over the same period at 1.20. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.89, while the total debt to equity was 0.90. In terms of profitability, the gross margin trailing 12 months is 53.30%. The firm’s gross profit as reported stood at $266.75 million against revenue of $468.41 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 0.29% to -$24.39 million, while revenue of -$24.95 million was -2.3% off the previous quarter. Analysts expected MGNI to announce $0.14 per share in earnings in its latest quarter, but it posted $0.18, representing a 28.60% surprise. EBITDA for the quarter stood at more than $27.16 million. MGNI stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.72 billion, with total debt at $809.42 million. Shareholders hold equity totaling $133.38 million.

Let’s look briefly at Magnite Inc. (MGNI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 46.07% to suggest the stock is trending Neutral, with historical volatility in this time period at 72.75%.

The stock’s 5-day moving average is $10.11, reflecting a +5.42% or $0.51 change from its current price. MGNI is currently trading -7.12% above its 20-day SMA, +31.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +3.66% and SMA200 by-21.52%.

Stochastic %K and %D was 67.35% and 60.35% and the average true range (ATR) pointed at 0.64. The RSI (14) points at 47.10%, while the 14-day stochastic is at 42.07% with the period’s ATR at 0.66. The stock’s 9-day MACD Oscillator is pointing at 0.48 and 0.36 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Magnite Inc. (NASDAQ: MGNI), The Benchmark Company launched coverage with a Buy rating.


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