683 Capital Management LLC Purchases Shares of 35,577 Magnera Corp (NYSE:MAGN)

683 Capital Management LLC purchased a new position in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 35,577 shares of the company's stock, valued at approximately $646,000. 683 Capital Management LLC owned 1.02% of Magnera as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in shares of Magnera during the 4th quarter worth approximately $52,408,000. Khrom Capital Management LLC acquired a new stake in shares of Magnera during the 4th quarter valued at about $23,777,000. Fuller & Thaler Asset Management Inc. bought a new stake in Magnera in the fourth quarter valued at about $23,657,000. LSV Asset Management bought a new position in Magnera during the fourth quarter worth about $18,382,000. Finally, Dimensional Fund Advisors LP bought a new stake in Magnera in the fourth quarter valued at $16,972,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Magnera news, 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 acquired at an average price of $20.33 per share, with a total value of $406,600.00. Following the completion of the purchase, the director now directly owns 21,306 shares of the company's stock, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Curt Begle purchased 23,786 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was bought at an average cost of $21.08 per share, with a total value of $501,408.88. Following the completion of the purchase, the chief executive officer now owns 24,066 shares of the company's stock, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by company insiders.

Magnera Stock Down 16.2 %

Shares of NYSE MAGN traded down $2.45 during trading hours on Wednesday, hitting $12.72. The company had a trading volume of 1,682,767 shares, compared to its average volume of 497,256. The stock has a market capitalization of $450.29 million, a PE ratio of -0.69 and a beta of 1.76. Magnera Corp has a 1-year low of $12.20 and a 1-year high of $26.78. The firm's 50 day moving average price is $16.90. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

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

Wall Street Analysts Forecast Growth

MAGN has been the subject of a number of recent analyst reports. 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 initiated coverage on Magnera in a report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective for the company.

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.