In a filing, Magnite Inc revealed its CEO BARRETT MICHAEL G. unloaded Company’s shares for reported $0.84 million on Mar 15 ’24. In the deal valued at $11.21 per share,75,000 shares were sold. As a result of this transaction, BARRETT MICHAEL G. now holds 1,234,662 shares worth roughly $10.89 million.
Then, Soroca Adam Lee sold 17,245 shares, generating $195,213 in total proceeds. Upon selling the shares at $11.32, the CHIEF PRODUCT OFFICER now owns 493,467 shares.
Before that, BARRETT MICHAEL G. sold 75,000 shares. Magnite Inc shares valued at $585,000 were divested by the CEO at a price of $7.80 per share. As a result of the transaction, BARRETT MICHAEL G. now holds 1,219,203 shares, worth roughly $10.75 million.
BofA Securities initiated its Magnite Inc [MGNI] rating to a Neutral in a research note published on January 11, 2024; the price target was $11. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in mid August from “an In-line” to “an Outperform”. B. Riley Securities began covering MGNI with “Buy” recommendation on April 13, 2023. The Benchmark Company started covering the stock on July 14, 2022. It rated MGNI as “a Buy”.
Price Performance Review of MGNI
On Monday, Magnite Inc [NASDAQ:MGNI] saw its stock fall -3.71% to $8.82. Over the last five days, the stock has lost -10.46%. Magnite Inc shares have fallen nearly -5.57% since the year began. Nevertheless, the stocks have fallen -5.57% over the past one year. While a 52-week high of $15.73 was reached on 03/01/24, a 52-week low of $6.28 was recorded on 01/17/24. SMA at 50 days reached $10.32, while 200 days put it at $9.60. A total of 1.01 million shares were traded, compared to the trading of 0.92 million shares in the previous session.
Levels Of Support And Resistance For MGNI Stock
The 24-hour chart illustrates a support level at 8.67, which if violated will result in even more drops to 8.52. On the upside, there is a resistance level at 9.06. A further resistance level may holdings at 9.30. The Relative Strength Index (RSI) on the 14-day chart is 28.93, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.31%. Stochastics %K at 2.98% indicates the stock is a buying.
The most recent change occurred on September 22, 2021 when Berenberg began covering the stock and recommended ‘”a Buy”‘ rating along with a $37 price target.
