Ancora Advisors LLC purchased a new stake in Magnera Corporation (NYSE:MAGN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 370,701 shares of the company's stock, valued at approximately $4,356,000. Ancora Advisors LLC owned approximately 1.04% of Magnera as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company's stock valued at $28,000 after purchasing an additional 1,630 shares during the last quarter. Quarry LP bought a new stake in Magnera in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd increased its position in Magnera by 106.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company's stock worth $30,000 after buying an additional 1,021 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company's stock worth $37,000 after acquiring an additional 1,492 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Magnera in the 3rd quarter worth approximately $99,000. Institutional investors own 76.92% of the company's stock.
Analyst Upgrades and Downgrades
MAGN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Magnera from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Wells Fargo & Company lifted their price objective on Magnera from $13.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised Magnera from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Magnera presently has a consensus rating of "Reduce" and an average price target of $16.00.
Check Out Our Latest Report on Magnera
Magnera Trading Down 2.3%
Shares of MAGN opened at $12.45 on Thursday. The firm has a market capitalization of $445.71 million, a price-to-earnings ratio of -6.19 and a beta of 1.74. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 1.87. Magnera Corporation has a 12-month low of $7.82 and a 12-month high of $15.52. The stock's 50-day moving average price is $12.79 and its 200 day moving average price is $11.80.
Magnera (NYSE:MAGN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.56) EPS for the quarter. The firm had revenue of $857.00 million during the quarter. Magnera had a negative net margin of 3.41% and a negative return on equity of 10.77%.
Magnera 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.
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