Bayesian Capital Management LP Takes $889,000 Position in Magnera Corp (NYSE:MAGN)

Bayesian Capital Management LP bought a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,900 shares of the company's stock, valued at approximately $889,000. Bayesian Capital Management LP owned about 1.40% of Magnera as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MAGN. Wilmington Savings Fund Society FSB bought a new stake in Magnera during the fourth quarter valued at about $26,000. Vestcor Inc bought a new stake in shares of Magnera during the 4th quarter worth approximately $46,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera during the fourth quarter worth approximately $48,000. KBC Group NV purchased a new position in Magnera during the 4th quarter valued at about $51,000. Finally, National Bank of Canada FI purchased a new position in shares of Magnera in the 4th quarter valued at $52,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Magnera Stock Up 3.1 %

MAGN traded up $0.43 on Friday, hitting $14.19. 1,075,810 shares of the company traded hands, compared to its average volume of 532,965. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The stock's 50 day moving average is $16.52. Magnera Corp has a 12-month low of $12.20 and a 12-month high of $26.78. The firm has a market cap of $502.33 million, a PE ratio of -0.77 and a beta of 1.76.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Vertical Research started coverage on shares of Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company. Wells Fargo & Company boosted their target price on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 7th.

Insider Buying and Selling at Magnera

In related 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Curt Begle acquired 20,275 shares of the business's stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $14.01 per share, with a total value of $284,052.75. Following the acquisition, the chief executive officer now owns 44,341 shares of the company's stock, valued at approximately $621,217.41. This trade represents a 84.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 64,061 shares of company stock valued at $1,192,062 over the last three months. 2.26% of the stock is owned by company insiders.

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.