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Magnite Inc (MGNI) receives a Buy rating from B. Riley Securities

Magnite Inc’s recent filing unveils 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 $11.33 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 $11.19 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 fall -0.11% to $9.18. Over the last five days, the stock has gained 5.64%. Magnite Inc shares have fallen nearly -1.71% since the year began. Nevertheless, the stocks have fallen -2.96% 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 $10.22, while 200 days put it at $9.34. A total of 1.02 million shares were traded, compared to the trading of 1.11 million shares in the previous session.

Levels Of Support And Resistance For MGNI Stock

The 24-hour chart illustrates a support level at 9.07, which if violated will result in even more drops to 8.95. On the upside, there is a resistance level at 9.33. A further resistance level may holdings at 9.48. The Relative Strength Index (RSI) on the 14-day chart is 44.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.05%. Stochastics %K at 42.00% indicates the stock is a holding.

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.

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