Black Diamond Capital Management L.L.C. Takes $8.92 Million Position in Magnera Corp (NYSE:MAGN)

Black Diamond Capital Management L.L.C. purchased a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 490,871 shares of the company's stock, valued at approximately $8,919,000. Magnera accounts for 4.8% of Black Diamond Capital Management L.L.C.'s portfolio, making the stock its 9th biggest holding. Black Diamond Capital Management L.L.C. owned 14.02% of Magnera as of its most recent SEC filing.

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

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen acquired 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through 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 price 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Vertical Research began coverage on shares of Magnera in a research note on Wednesday, March 19th. They set a "hold" rating and a $21.00 price target for the company. Wells Fargo & Company raised their price target on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 7th.

Magnera Price Performance

Shares of Magnera stock traded up $0.68 on Friday, hitting $15.26. 324,353 shares of the company's stock traded hands, compared to its average volume of 487,374. Magnera Corp has a one year low of $13.07 and a one year high of $26.78. The firm has a 50-day moving average price of $17.11. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The company has a market cap of $540.20 million, a PE ratio of -0.83 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings data 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 period 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.