Magnera Corp (NYSE:MAGN) CEO Curt Begle Purchases 23,786 Shares of Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle bought 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average cost of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares of the company’s stock, valued at $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Magnera Stock Up 5.8 %

Magnera stock opened at $22.82 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.49 and a quick ratio of 1.04. Magnera Corp has a 12-month low of $15.80 and a 12-month high of $31.07. The firm has a market cap of $79.87 million, a PE ratio of -1.24 and a beta of 1.67.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) EPS for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 22.40%. During the same quarter last year, the business earned ($0.25) earnings per share.

Institutional Trading of Magnera

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Magnera in the 4th quarter valued at about $52,408,000. Loomis Sayles & Co. L P acquired a new position in Magnera during the 4th quarter worth $10,969,000. Geode Capital Management LLC bought a new stake in shares of Magnera in the 4th quarter worth $6,491,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Magnera during the fourth quarter worth $1,908,000. Finally, Norges Bank purchased a new stake in shares of Magnera in the fourth quarter valued at $1,763,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, 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.

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.