Black Diamond Capital Management L.L.C. Takes Position in Magnera Corp (NYSE:MAGN)

Black Diamond Capital Management L.L.C. bought a new position in Magnera Corp (NYSE:MAGN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 490,871 shares of the company’s stock, valued at approximately $8,919,000. Magnera comprises 4.8% of Black Diamond Capital Management L.L.C.’s portfolio, making the stock its 9th largest holding. Black Diamond Capital Management L.L.C. owned about 14.02% of Magnera at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera during the 4th quarter worth $26,000. Vestcor Inc bought a new stake in Magnera in the fourth quarter worth about $46,000. State of Alaska Department of Revenue purchased a new position in Magnera in the fourth quarter valued at about $48,000. KBC Group NV bought a new position in shares of Magnera during the 4th quarter valued at approximately $51,000. Finally, National Bank of Canada FI purchased a new stake in shares of Magnera during the 4th quarter worth approximately $52,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Magnera

In other news, Director Carl J. Rickertsen bought 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now directly owns 21,306 shares in the company, valued at $433,150.98. This trade represents a 1,531.39 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Curt Begle bought 23,786 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were acquired 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. This represents a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by company insiders.

Magnera Stock Performance

MAGN stock opened at $14.65 on Tuesday. 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 $13.07 and a one year high of $26.78. The business’s 50 day simple moving average is $17.62. The stock has a market capitalization of $518.61 million, a P/E ratio of -0.80 and a beta of 1.76.

Magnera (NYSE:MAGN) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) 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 in the previous year, the firm earned ($0.25) earnings per share.

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.