Arrowstreet Capital Limited Partnership Invests $995,000 in Magnera Corp (NYSE:MAGN)

Arrowstreet Capital Limited Partnership acquired a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 54,749 shares of the company's stock, valued at approximately $995,000. Arrowstreet Capital Limited Partnership owned 1.56% of Magnera as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Magnera in the fourth quarter valued at approximately $1,763,000. Loomis Sayles & Co. L P purchased a new position in Magnera in the 4th quarter valued at approximately $10,969,000. JPMorgan Chase & Co. bought a new stake in Magnera during the 4th quarter valued at $1,629,000. Vanguard Group Inc. bought a new stake in Magnera during the 4th quarter valued at $52,408,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Magnera during the fourth quarter worth $115,000. 76.92% of the stock is currently owned by institutional investors.

Insider Transactions at Magnera

In related news, CEO Curt Begle bought 23,786 shares of the business's 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the transaction, the director now directly owns 21,306 shares of the company's stock, valued at approximately $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. 2.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MAGN has been the topic of a number of analyst reports. Vertical Research started coverage on Magnera in a research note on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective on the stock. Wells Fargo & Company lifted their target price on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 7th.

Magnera Stock Performance

NYSE MAGN traded down $0.25 on Thursday, hitting $14.83. The stock had a trading volume of 33,435 shares, compared to its average volume of 487,167. The business has a 50-day moving average of $18.91. The company has a market capitalization of $524.98 million, a P/E ratio of -0.81 and a beta of 1.76. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. Magnera Corp has a 52-week low of $13.11 and a 52-week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (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 period in the prior year, the business posted ($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.