Magnera (NYSE:MAGN) Hits New 12-Month Low – Here’s What Happened

Magnera Corp (NYSE:MAGN) reached a new 52-week low on Friday . The company traded as low as $15.65 and last traded at $15.91, with a volume of 26644 shares. The stock had previously closed at $17.07.

Analyst Upgrades and Downgrades

MAGN has been the topic of a number of recent analyst reports. Vertical Research began coverage on Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price target on the stock. Wells Fargo & Company increased their target price on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th.

Magnera Price Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The firm has a 50 day moving average price of $19.78. The company has a market capitalization of $542.68 million, a price-to-earnings ratio of -0.84 and a beta of 1.76.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period last year, the firm earned ($0.25) earnings per share.

Insider Buying and Selling

In other Magnera news, CEO Curt Begle acquired 23,786 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl J. Rickertsen bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the acquisition, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Magnera

Several hedge funds and other institutional investors have recently made changes to their positions in MAGN. Madison Avenue Partners LP acquired a new position in Magnera during the fourth quarter worth $61,892,000. Vanguard Group Inc. purchased a new position in shares of Magnera during the 4th quarter worth $52,408,000. Engine Capital Management LP acquired a new position in shares of Magnera during the 4th quarter valued at about $42,851,000. Ancora Advisors LLC purchased a new stake in shares of Magnera in the fourth quarter valued at about $30,047,000. Finally, Littlejohn & Co. LLC acquired a new stake in Magnera during the fourth quarter worth about $25,591,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

About Magnera

Magnera’s purpose is to better the world with new possibilities made real. By continuously co-creating and innovating with our partners, we develop original material solutions that make a brighter future possible. With a breadth of technologies and a passion for what we create, Magnera’s solutions propel our customers’ goals forward and solve end-users’ problems, every day.