Boothbay Fund Management LLC Acquires Shares of 62,961 Magnera Corp (NYSE:MAGN)

Boothbay Fund Management LLC bought a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 62,961 shares of the company's stock, valued at approximately $1,144,000. Boothbay Fund Management LLC owned 1.80% of Magnera at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in Magnera in the 4th quarter valued at $26,000. Vestcor Inc acquired a new stake in shares of Magnera in the fourth quarter valued at about $46,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera in the fourth quarter worth about $48,000. KBC Group NV acquired a new position in Magnera during the fourth quarter worth about $51,000. Finally, National Bank of Canada FI purchased a new stake in Magnera during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Magnera Stock Performance

Shares of NYSE MAGN traded down $0.05 during midday trading on Thursday, reaching $14.62. 210,145 shares of the stock were exchanged, compared to its average volume of 489,363. Magnera Corp has a twelve month low of $13.07 and a twelve month high of $26.78. The stock has a market cap of $517.55 million, a PE ratio of -0.80 and a beta of 1.76. The firm has a 50 day moving average of $17.22. 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 (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) 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 quarter in the previous year, the firm posted ($0.25) earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Magnera from $22.00 to $24.00 and gave the company 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 price objective on the stock.

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen acquired 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now owns 21,306 shares in the company, valued at $433,150.98. The trade was a 1,531.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Curt Begle acquired 23,786 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

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.