Magnera Corp (NYSE:MAGN) Director Buys $200,061.40 in Stock

Magnera Corp (NYSE:MAGN - Get Free Report) Director Bruce Brown purchased 16,940 shares of Magnera stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $11.81 per share, with a total value of $200,061.40. Following the completion of the acquisition, the director now owns 17,228 shares in the company, valued at $203,462.68. The trade was a 5,881.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Magnera Trading Up 3.9%

Magnera stock traded up $0.47 during trading hours on Tuesday, reaching $12.64. 161,061 shares of the company were exchanged, compared to its average volume of 549,884. Magnera Corp has a 12 month low of $11.43 and a 12 month high of $26.78. 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 50-day moving average price of $14.41. The firm has a market capitalization of $449.98 million, a price-to-earnings ratio of -0.69 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.62% and a negative net margin of 6.97%. The firm had revenue of $824.00 million for the quarter. The firm's quarterly revenue was up 47.7% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new position in shares of Magnera in the fourth quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Magnera in the 4th quarter valued at approximately $101,000. State of Alaska Department of Revenue bought a new position in Magnera in the 4th quarter worth approximately $48,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Magnera during the fourth quarter worth approximately $26,000. Finally, Rhumbline Advisers acquired a new position in shares of Magnera during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Wall Street Analyst Weigh In

MAGN has been the subject of a number of recent research reports. Vertical Research started coverage on shares of Magnera in a report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective for the company. Wells Fargo & Company cut Magnera from an "overweight" rating to a "reduce" rating in a research report on Wednesday, May 14th.

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.