1,011,667 Shares in Magnera Corp (NYSE:MAGN) Purchased by LSV Asset Management

LSV Asset Management bought a new position in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,011,667 shares of the company’s stock, valued at approximately $18,382,000. LSV Asset Management owned 28.90% of Magnera at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MAGN. Scotia Capital Inc. purchased a new position in shares of Magnera during the fourth quarter worth $873,000. CenterBook Partners LP acquired a new position in Magnera during the 4th quarter worth about $1,671,000. Renaissance Technologies LLC purchased a new position in Magnera during the 4th quarter valued at about $667,000. DG Capital Management LLC acquired a new position in Magnera in the 4th quarter valued at about $6,340,000. Finally, Legal & General Group Plc purchased a new stake in Magnera during the fourth quarter worth about $544,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Magnera

In other news, CEO Curt Begle bought 23,786 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now owns 24,066 shares in the company, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl J. Rickertsen acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the transaction, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. This represents 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 insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company increased their price objective on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Vertical Research began coverage on Magnera in a research report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target on the stock.

Magnera Stock Performance

MAGN opened at $15.08 on Friday. The firm has a market capitalization of $533.83 million, a PE ratio of -0.82 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. Magnera Corp has a one year low of $13.11 and a one year high of $26.78. The business’s 50-day moving average price is $19.20.

Magnera (NYSE:MAGN) last issued 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 quarter in the previous year, the company earned ($0.25) EPS.

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.