Trexquant Investment LP Purchases Shares of 26,210 Magnera Corp (NYSE:MAGN)

Trexquant Investment LP acquired a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,210 shares of the company's stock, valued at approximately $476,000. Trexquant Investment LP owned about 0.75% of Magnera as of its most recent filing with the SEC.

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

Magnera Stock Down 3.4 %

NYSE:MAGN traded down $0.52 during mid-day trading on Friday, hitting $14.56. 488,149 shares of the company traded hands, compared to its average volume of 493,553. Magnera Corp has a one year low of $13.11 and a one year high of $26.78. The company has a fifty day moving average of $18.79. The company has a market cap of $515.42 million, a price-to-earnings ratio of -0.79 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45.

Magnera (NYSE:MAGN - Get Free Report) last announced 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 10.62%. During the same quarter in the previous year, the business earned ($0.25) earnings per share.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Vertical Research assumed coverage on shares of Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company.

Insider Buying and Selling at Magnera

In other Magnera news, CEO Curt Begle acquired 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now owns 24,066 shares of the company's stock, valued at approximately $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 link. Also, Director Carl J. Rickertsen bought 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $20.33 per share, with a total value of $406,600.00. Following the completion of the acquisition, the director now 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 currently owned by 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.