RBF Capital LLC Acquires New Position in Magnera Corp (NYSE:MAGN)

RBF Capital LLC bought a new position in Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 53,992 shares of the company's stock, valued at approximately $981,000. RBF Capital LLC owned 1.54% of Magnera at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera during the 4th quarter valued at $26,000. Vestcor Inc purchased a new stake in shares of Magnera during the fourth quarter worth about $46,000. State of Alaska Department of Revenue purchased a new position in Magnera during the 4th quarter valued at approximately $48,000. KBC Group NV purchased a new position in Magnera during the 4th quarter valued at approximately $51,000. Finally, National Bank of Canada FI purchased a new position in Magnera during the 4th quarter valued at approximately $52,000. Institutional investors own 76.92% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have weighed in on MAGN. Wells Fargo & Company raised their price target on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Vertical Research began coverage on Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price target for the company.

Magnera Price Performance

Shares of Magnera stock traded up $0.19 on Monday, reaching $14.57. The company had a trading volume of 93,413 shares, compared to its average volume of 491,974. The firm has a market capitalization of $515.78 million, a price-to-earnings ratio of -0.79 and a beta of 1.76. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The firm's 50-day simple moving average is $17.78. Magnera Corp has a 1 year low of $13.07 and a 1 year high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly 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 period in the prior year, the business earned ($0.25) EPS.

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.