Jump Financial LLC Buys Shares of 25,600 Magnera Corp (NYSE:MAGN)

Jump Financial LLC bought a new stake in Magnera Corp (NYSE:MAGN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,600 shares of the company’s stock, valued at approximately $465,000. Jump Financial LLC owned approximately 0.73% of Magnera at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MAGN. Barclays PLC acquired a new stake in Magnera during the 4th quarter worth $135,000. Brightline Capital Management LLC purchased a new position in shares of Magnera in the fourth quarter worth about $2,780,000. LSV Asset Management purchased a new position in shares of Magnera in the fourth quarter worth about $18,382,000. Scotia Capital Inc. acquired a new position in Magnera during the fourth quarter worth about $873,000. Finally, CenterBook Partners LP purchased a new stake in Magnera during the 4th quarter valued at about $1,671,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Magnera Trading Up 7.1 %

Shares of MAGN opened at $14.49 on Friday. Magnera Corp has a 12-month low of $13.07 and a 12-month high of $26.78. The stock has a market capitalization of $512.77 million, a price-to-earnings ratio of -0.79 and a beta of 1.76. The firm has a 50-day moving average price of $17.94. 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 (NYSE:MAGN) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the previous year, the firm posted ($0.25) earnings per share.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MAGN shares. Wells Fargo & Company boosted their target price on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Vertical Research assumed coverage on Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock.

Insiders Place Their Bets

In related news, CEO Curt Begle bought 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased 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 of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the purchase, the director now directly owns 21,306 shares of the company’s stock, valued at $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.

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.