Bluefin Capital Management LLC Takes Position in Magnera Corporation $MAGN

Key Points

• Bluefin Capital Management LLC acquired a new stake in Magnera Corporation, purchasing 33,224 shares valued at approximately $603,000, representing about 0.09% of the company.
• Several institutional investors significantly increased their stakes, with Mitsubishi UFJ Asset Management boosting its share by 11,193.3% during the 1st quarter.
• Magnera reported a quarterly loss of ($0.51) EPS, missing estimates by $0.54, despite a 50.9% year-over-year revenue increase to $839 million.

Bluefin Capital Management LLC bought a new stake in Magnera Corporation (NYSE:MAGN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,224 shares of the company's stock, valued at approximately $603,000. Bluefin Capital Management LLC owned about 0.09% of Magnera at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Magnera by 11,193.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,694 shares of the company's stock worth $31,000 after acquiring an additional 1,679 shares during the period. Shell Asset Management Co. bought a new stake in Magnera during the 4th quarter worth $41,000. GAMMA Investing LLC grew its position in Magnera by 1,132.5% during the 1st quarter. GAMMA Investing LLC now owns 3,759 shares of the company's stock worth $68,000 after acquiring an additional 3,454 shares during the last quarter. Deutsche Bank AG bought a new stake in Magnera during the 4th quarter worth $73,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Magnera during the fourth quarter worth $97,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MAGN shares. Wall Street Zen lowered shares of Magnera from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company reduced their price target on shares of Magnera from $16.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.50.

Magnera Price Performance

NYSE MAGN opened at $11.69 on Wednesday. The company has a market cap of $416.16 million, a PE ratio of -1.53 and a beta of 1.73. Magnera Corporation has a 52 week low of $10.39 and a 52 week high of $26.78. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76. The firm's 50-day simple moving average is $12.81 and its two-hundred day simple moving average is $14.46.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.54). The business had revenue of $839.00 million for the quarter. Magnera had a negative net margin of 4.98% and a negative return on equity of 9.57%. The company's quarterly revenue was up 50.9% compared to the same quarter last year.

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.

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