Magnite Inc (NASDAQ:MGNI) shares traded 22.35% higher at $11.99 on Wall Street last session.
MGNI stock price is now 21.51% away from the 50-day moving average and 33.14% away from the 200-day moving average. The market capitalization of the company currently stands at $1.68B.
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On January 11, 2024, BofA Securities recently initiated its ‘Neutral’ rating on the stock quoting a target price of $11, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, BARRETT MICHAEL G., CEO sold 75,000 shares of the company’s stock on Mar 15 ’24. The stock was sold for $840,750 at an average price of $11.21. Upon completion of the transaction, the CEO now directly owns 1,234,662 shares in the company, valued at $14.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, CHIEF PRODUCT OFFICER Soroca Adam Lee sold 17,245 shares of the business’s stock. A total of $195,213 was realized by selling the stock at an average price of $11.32. This leaves the insider owning 493,467 shares of the company worth $5.92 million. A total of 11.59% of the company’s stock is owned by insiders.
During the past 12 months, Magnite Inc has had a low of $6.28 and a high of $15.73. As of last week, the company has a debt-to-equity ratio of 0.90, a current ratio of 1.10, and a quick ratio of 1.10.
According to the Advertising Agencies Company, earnings per share came in at 0.09, beating analysts’ expectations of 0.03 by 0.06. This compares to -$0.73 EPS in the same period last year. The net profit margin was -12.24% and return on equity was -11.17% for MGNI. The company reported revenue of $149.32 million for the quarter, compared to $130.15 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.73 percent. For the current quarter, analysts expect MGNI to generate $148.67M in revenue.
