Paloma Partners Management Co Buys New Stake in Magnera Corp (NYSE:MAGN)

Paloma Partners Management Co purchased a new position in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,073 shares of the company’s stock, valued at approximately $219,000. Paloma Partners Management Co owned approximately 0.34% of Magnera as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp purchased a new stake in shares of Magnera during the 4th quarter worth about $2,272,000. Tudor Investment Corp ET AL purchased a new position in Magnera during the fourth quarter worth approximately $3,849,000. Public Employees Retirement Association of Colorado purchased a new position in Magnera during the fourth quarter worth approximately $58,000. Gratia Capital LLC purchased a new stake in shares of Magnera in the fourth quarter valued at approximately $5,328,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Magnera during the 4th quarter worth approximately $1,144,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Price Performance

Shares of NYSE:MAGN opened at $14.71 on Wednesday. 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 1 year low of $13.07 and a 1 year high of $26.78. The firm has a market capitalization of $520.73 million, a price-to-earnings ratio of -0.80 and a beta of 1.76. The stock has a 50 day moving average price of $17.48.

Magnera (NYSE:MAGN) last announced its earnings results 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 last year, the firm posted ($0.25) EPS.

Analyst Ratings Changes

A number of research firms recently issued reports on MAGN. Wells Fargo & Company boosted their price target on shares of 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 shares of Magnera in a research note on Wednesday, March 19th. They set a “hold” rating and a $21.00 target price for the company.

Insider Activity at Magnera

In other news, CEO Curt Begle purchased 23,786 shares of the stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.08 per share, with a total value of $501,408.88. Following the transaction, the chief executive officer now owns 24,066 shares in the company, valued at $507,311.28. The trade was a 8,495.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl J. Rickertsen acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $20.33 per share, with a total value of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares of the company’s stock, valued at $433,150.98. This trade represents a 1,531.39 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is owned by corporate insiders.

Magnera Company Profile

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.