Magnite Inc’s recently made public that 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 $10.73 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 $10.59 million.
A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in mid January with a ‘”a Neutral”‘ rating. Evercore ISI also remained covering MGNI and has increased its forecast on August 16, 2023 with a “an Outperform” recommendation from previously “an In-line” rating. B. Riley Securities started covering the stock on April 13, 2023. It rated MGNI as “a Buy”.
Price Performance Review of MGNI
On Monday, Magnite Inc [NASDAQ:MGNI] saw its stock jump 2.72% to $8.69. Over the last five days, the stock has lost -1.47%. Magnite Inc shares have fallen nearly -6.96% since the year began. Nevertheless, the stocks have fallen -6.96% 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 04/22/24. SMA at 50 days reached $10.26, while 200 days put it at $9.48. A total of 0.79 million shares were traded, compared to the trading of 1.04 million shares in the previous session.
Levels Of Support And Resistance For MGNI Stock
The 24-hour chart illustrates a support level at 8.47, which if violated will result in even more drops to 8.26. On the upside, there is a resistance level at 8.80. A further resistance level may holdings at 8.92. The Relative Strength Index (RSI) on the 14-day chart is 32.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.74%. Stochastics %K at 8.10% indicates the stock is a buying.
The most recent change occurred on July 14, 2022 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $18 price target.
