In a filing, Magnite Inc revealed its CEO BARRETT MICHAEL G. unloaded Company’s shares for reported $2.59 million on Dec 04 ’24. In the deal valued at $17.52 per share,147,996 shares were sold. As a result of this transaction, BARRETT MICHAEL G. now holds 634,914 shares worth roughly $10.65 million.
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Then, BARRETT MICHAEL G. bought 147,996 shares, generating $2,593,333 in total proceeds.
Before that, Buonasera David sold 431 shares. Magnite Inc shares valued at $7,232 were divested by the CHIEF TECHNOLOGY OFFICER at a price of $16.78 per share. As a result of the transaction, Buonasera David now holds 225,764 shares, worth roughly $3.79 million.
Needham reiterated its Magnite Inc [MGNI] rating to a Buy in a research note published on December 05, 2024; the price target was $20. A number of analysts have revised their coverage, including Scotiabank’s analysts, who began to cover the stock in early December with a ‘”a Sector outperform”‘ rating. Wells Fargo began covering MGNI with “an Equal weight” recommendation on October 29, 2024. Lake Street started covering the stock on July 25, 2024. It rated MGNI as “a Buy”.
Price Performance Review of MGNI
On Monday, Magnite Inc [NASDAQ:MGNI] saw its stock fall -6.83% to $16.77. Over the last five days, the stock has lost -2.44%. Magnite Inc shares have risen nearly 79.55% since the year began. Nevertheless, the stocks have risen 105.01% over the past one year. While a 52-week high of $18.38 was reached on 11/25/24, a 52-week low of $8.05 was recorded on 04/22/24. SMA at 50 days reached $14.15, while 200 days put it at $12.61.
Levels Of Support And Resistance For MGNI Stock
The 24-hour chart illustrates a support level at 16.29, which if violated will result in even more drops to 15.81. On the upside, there is a resistance level at 17.63. A further resistance level may holdings at 18.48. The Relative Strength Index (RSI) on the 14-day chart is 57.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.31%. Stochastics %K at 67.99% indicates the stock is a holding.
How much short interest is there in Magnite Inc?
A steep rise in short interest was recorded in Magnite Inc stocks on 2024-11-15, dropping by -1.02 million shares to a total of 7.82 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 8.84 million shares. There was a decline of -13.03%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 16, 2024 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $16 price target.
