507,759 Shares in Magnera Corp (NYSE:MAGN) Purchased by J. Goldman & Co LP

J. Goldman & Co LP bought a new stake in Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 507,759 shares of the company's stock, valued at approximately $9,226,000. J. Goldman & Co LP owned approximately 14.51% of Magnera at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in Magnera during the 4th quarter worth about $26,000. Vestcor Inc acquired a new stake in shares of Magnera in the 4th quarter valued at $46,000. State of Alaska Department of Revenue acquired a new position in shares of Magnera during the fourth quarter worth $48,000. KBC Group NV purchased a new position in Magnera in the fourth quarter valued at $51,000. Finally, National Bank of Canada FI acquired a new stake in Magnera in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MAGN shares. Vertical Research began coverage on Magnera in a report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price target for the company. Wells Fargo & Company raised 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.

Insider Activity

In other news, CEO Curt Begle acquired 20,275 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the completion of the purchase, the chief executive officer now directly owns 44,341 shares of the company's stock, valued at approximately $621,217.41. This trade represents a 84.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl J. Rickertsen acquired 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares in the company, valued at $433,150.98. This represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 64,061 shares of company stock valued at $1,192,062 in the last ninety days. Company insiders own 2.26% of the company's stock.

Magnera Stock Up 3.1 %

Magnera stock opened at $14.19 on Friday. Magnera Corp has a 52 week low of $12.20 and a 52 week high of $26.78. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The stock has a 50-day simple moving average of $16.52. The stock has a market cap of $502.33 million, a price-to-earnings ratio of -0.77 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($1.35). Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business had revenue of $824.00 million during the quarter. The company's revenue for the quarter was up 47.7% compared to the same quarter last year.

Magnera 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.

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