Alpine Global Management LLC Makes New Investment in Magnera Corp (NYSE:MAGN)

Alpine Global Management LLC purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 102,724 shares of the company's stock, valued at approximately $1,866,000. Alpine Global Management LLC owned 2.93% of Magnera as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Rhumbline Advisers purchased a new position in Magnera during the 4th quarter valued at about $55,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Magnera in the fourth quarter valued at approximately $101,000. Swiss National Bank purchased a new position in shares of Magnera in the fourth quarter valued at approximately $1,267,000. Ballentine Partners LLC purchased a new stake in Magnera during the 4th quarter worth approximately $295,000. Finally, Bank of New York Mellon Corp purchased a new stake in Magnera during the 4th quarter worth approximately $376,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Curt Begle acquired 23,786 shares of the firm's stock in a transaction on 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 purchase, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carl J. Rickertsen bought 20,000 shares of the business's stock in a transaction dated 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 position. The disclosure for this purchase can be found here. Company insiders own 2.26% of the company's stock.

Magnera Stock Down 0.6 %

NYSE MAGN traded down $0.08 on Friday, hitting $14.39. 272,871 shares of the stock were exchanged, compared to its average volume of 497,212. Magnera Corp has a fifty-two week low of $13.07 and a fifty-two week high of $26.78. The firm has a 50-day simple moving average of $17.78. 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 has a market cap of $509.41 million, a P/E ratio of -0.78 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($1.69) 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 quarter last year, the company 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.