The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Magnite Inc shares valued at $35,410 were sold by Buckley Sean Patrick on Aug 20 ’24. At $13.50 per share, Buckley Sean Patrick sold 2,623 shares. The insider’s holdings dropped to 329,119 shares worth approximately $4.05 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Buckley Sean Patrick sold 2,623 shares, netting a total of over 32,866 in proceeds. Following the sale of shares at $12.53 each, the insider now holds 331,742 shares.
Before that, Soroca Adam Lee had sold 7,910 shares from its account. In a trade valued at $99,587, the CHIEF PRODUCT OFFICER traded Magnite Inc shares for $12.59 each. Upon closing the transaction, the insider’s holdings decreased to 7,910 shares, worth approximately $5.37 million.
As published in their initiating research note from Lake Street on July 25, 2024, Magnite Inc [MGNI] has been a Buy and the price target has been revised to $21. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. As of May 24, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for MGNI.
Analyzing MGNI Stock Performance
During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, Magnite Inc shares have jumped approximately 31.91%. Shares of the company reached a 52-week high of $15.92 on 07/16/24 and a 52-week low of $8.38 on 04/22/24. A 50-day SMA is recorded $12.95, while a 200-day SMA reached $11.68. Nevertheless, trading volume fell to 1.49 million shares from 1.02 million shares the previous day.
Support And Resistance Levels for Magnite Inc (MGNI)
According to the 24-hour chart, there is a support level at 12.12, which, if violated, would cause prices to drop to 11.91. In the upper region, resistance lies at 12.66. The next price resistance is at 13.00. RSI (Relative Strength Index) is 47.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.11, which suggests the price will decrease in the coming days. Percent R is at 69.87%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
