D. E. Shaw & Co. Inc. purchased a new position in Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 698,046 shares of the company's stock, valued at approximately $12,683,000. D. E. Shaw & Co. Inc. owned 19.94% of Magnera as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Magnera in the fourth quarter valued at $26,000. Vestcor Inc acquired a new position in shares of Magnera during the 4th quarter valued at about $46,000. State of Alaska Department of Revenue purchased a new position in Magnera in the fourth quarter valued at approximately $48,000. KBC Group NV acquired a new stake in shares of Magnera during the fourth quarter valued at about $51,000. Finally, National Bank of Canada FI acquired a new position in shares of Magnera in the 4th quarter worth approximately $52,000. 76.92% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CEO Curt Begle acquired 20,275 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the completion of the purchase, the chief executive officer now owns 44,341 shares in the company, valued at approximately $621,217.41. This trade represents a 84.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carl J. Rickertsen acquired 20,000 shares of the 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 completion of the purchase, the director now directly owns 21,306 shares in the company, 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. Over the last 90 days, insiders have acquired 80,275 shares of company stock worth $1,266,653. Insiders own 2.26% of the company's stock.
Magnera Stock Performance
Shares of MAGN stock traded down $0.31 during trading on Monday, hitting $12.78. The company had a trading volume of 88,286 shares, compared to its average volume of 543,528. The stock's 50-day simple moving average is $15.94. The company has a market cap of $454.97 million, a price-to-earnings ratio of -0.70 and a beta of 1.76. 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 Corp has a one year low of $12.20 and a one year high of $26.78.
Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) EPS 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 company had revenue of $824.00 million during the quarter. The business's revenue for the quarter was up 47.7% on a year-over-year basis.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on MAGN shares. Vertical Research started coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective for the company. Wells Fargo & Company downgraded Magnera from an "overweight" rating to a "reduce" rating in a research note on Wednesday.
View Our Latest Stock Report on MAGN
Magnera Company Profile
(
Free Report)
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.
Further Reading
Before you consider Magnera, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magnera wasn't on the list.
While Magnera currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
