Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Magnite Inc shares valued at $226,865 were sold by Day David on Jan 03 ’25. At $17.00 per share, Day David sold 13,345 shares. The insider’s holdings dropped to 374,014 shares worth approximately $6.57 million following the completion of this transaction.
Also, DAVID DAY purchased 13,345 shares, netting a total of over 226,865 in proceeds.
Before that, Day David had sold 13,500 shares from its account. In a trade valued at $220,320, the CHIEF FINANCIAL OFFICER traded Magnite Inc shares for $16.32 each. Upon closing the transaction, the insider’s holdings decreased to 13,500 shares, worth approximately $6.8 million.
As published in a research note from Needham on December 05, 2024, Magnite Inc [MGNI] has been retained to a Buy and the price target has been revised to $20. Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in early December. As of October 29, 2024, Wells Fargo has initiated its “an Equal weight” rating for MGNI. Earlier on July 25, 2024, Lake Street initiated its rating. Their recommendation was “a Buy” for MGNI stock.
Analyzing MGNI Stock Performance
During the last five days, there has been a surge of approximately 6.94%. Over the course of the year, Magnite Inc shares have jumped approximately 10.30%. Shares of the company reached a 52-week high of $17.75 on 01/28/25 and a 52-week low of $14.89 on 01/16/25. A 50-day SMA is recorded $16.51, while a 200-day SMA reached $13.53. Nevertheless, trading volume fell to 1.37 million shares from 1.78 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 17.26, which, if violated, would cause prices to drop to 16.95. In the upper region, resistance lies at 17.78. The next price resistance is at 17.99. RSI (Relative Strength Index) is 60.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 6.64%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
