GSA Capital Partners LLP Raises Stock Holdings in Magnera Corporation $MAGN

GSA Capital Partners LLP boosted its holdings in Magnera Corporation (NYSE:MAGN) by 882.9% in the fourth quarter, HoldingsChannel reports. The firm owned 128,095 shares of the company’s stock after purchasing an additional 115,062 shares during the period. GSA Capital Partners LLP’s holdings in Magnera were worth $1,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Magnera during the fourth quarter valued at approximately $8,445,000. Scopia Capital Management LP raised its stake in Magnera by 46.7% during the second quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock valued at $12,210,000 after buying an additional 321,579 shares in the last quarter. Clearline Capital LP acquired a new stake in Magnera during the third quarter valued at approximately $2,079,000. JB Capital Partners LP acquired a new stake in Magnera during the third quarter valued at approximately $1,992,000. Finally, Jump Financial LLC acquired a new stake in Magnera during the third quarter valued at approximately $1,944,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Magnera Stock Up 0.5%

Shares of Magnera stock opened at $10.35 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. The business’s 50 day simple moving average is $10.27 and its 200-day simple moving average is $12.12. The stock has a market capitalization of $370.53 million, a price-to-earnings ratio of -5.28 and a beta of 1.75. Magnera Corporation has a twelve month low of $7.82 and a twelve month high of $15.52.

Magnera (NYSE:MAGN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $796.00 million for the quarter. Magnera had a negative return on equity of 10.30% and a negative net margin of 3.37%.

Analyst Ratings Changes

Several brokerages have issued reports on MAGN. Weiss Ratings restated a “sell (d)” rating on shares of Magnera in a research note on Wednesday, May 6th. Wall Street Zen cut Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Wells Fargo & Company upped their price objective on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Magnera currently has a consensus rating of “Reduce” and a consensus price target of $14.50.

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.