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 $203,727 were purchased by DAVID BUONASERA on Nov 14 ’24. At $16.41 per share, DAVID BUONASERA acquired 12,412 shares.
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Also, Gephart Brian sold 2,156 shares, netting a total of over 32,340 in proceeds. Following the sale of shares at $15.00 each, the insider now holds 116,982 shares.
Before that, BARRETT MICHAEL G. had sold 25,000 shares from its account. In a trade valued at $375,000, the CEO traded Magnite Inc shares for $15.00 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $15.32 million.
As published in their initiating research note from Wells Fargo on October 29, 2024, Magnite Inc [MGNI] has been an Equal weight and the price target has been revised to $13. Analysts at Lake Street started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of July 16, 2024, Wolfe Research has initiated its “an Outperform” rating for MGNI. Earlier on May 24, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for MGNI stock which previously was a “a Neutral”.
Analyzing MGNI Stock Performance
During the last five days, there has been a surge of approximately 23.50%. Over the course of the year, Magnite Inc shares have jumped approximately 78.37%. Shares of the company reached a 52-week high of $17.00 on 11/13/24 and a 52-week low of $8.38 on 04/22/24. A 50-day SMA is recorded $13.03, while a 200-day SMA reached $12.02. Nevertheless, trading volume fell to 2.45 million shares from 3.71 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 16.20, which, if violated, would cause prices to drop to 15.74. In the upper region, resistance lies at 17.00. The next price resistance is at 17.34. RSI (Relative Strength Index) is 79.54 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.77, which suggests the price will increase in the coming days. Percent R is at 6.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of Magnite Inc (MGNI)?
On April 19, 2024, B. Riley Securities assigned a price target of “a Buy” to the stock and resumed coverage with a $14.50.
