Credit Industriel ET Commercial Acquires Shares of 25,702 Magnera Corp (NYSE:MAGN)

Credit Industriel ET Commercial bought a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 25,702 shares of the company's stock, valued at approximately $467,000. Credit Industriel ET Commercial owned approximately 0.07% of Magnera at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. acquired a new stake in shares of Magnera during the fourth quarter worth about $147,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Magnera during the 4th quarter worth approximately $23,657,000. RBF Capital LLC purchased a new position in Magnera in the 4th quarter valued at approximately $981,000. Khrom Capital Management LLC purchased a new position in Magnera in the fourth quarter valued at $23,777,000. Finally, Alpine Global Management LLC purchased a new position in shares of Magnera in the 4th quarter valued at about $1,866,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Magnera

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

Magnera Price Performance

Shares of NYSE:MAGN traded up $0.26 during trading on Tuesday, hitting $14.91. 216,048 shares of the company were exchanged, compared to its average volume of 490,773. The company has a 50 day moving average of $17.62. Magnera Corp has a 12-month low of $13.07 and a 12-month high of $26.78. 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 stock has a market capitalization of $527.81 million, a PE ratio of -0.81 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (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 last year, the company posted ($0.25) earnings per share.

Wall Street Analyst Weigh In

MAGN has been the subject of a number of analyst reports. Vertical Research assumed coverage on shares of Magnera in a research note on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company. 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.

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.