Bluefin Capital Management LLC Makes New $603,000 Investment 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 purchased a new position in shares of Magnera Corporation (NYSE:MAGN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 reporting period.

A number of other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Magnera by 11,193.3% in 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. purchased a new stake in shares of Magnera in the fourth quarter valued at $41,000. GAMMA Investing LLC increased its stake in Magnera by 1,132.5% in the first quarter. GAMMA Investing LLC now owns 3,759 shares of the company's stock valued at $68,000 after purchasing an additional 3,454 shares during the last quarter. Deutsche Bank AG purchased a new position in Magnera during the fourth quarter worth about $73,000. Finally, Lazard Asset Management LLC acquired a new stake in Magnera in the 4th quarter worth about $97,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Magnera Stock Down 0.5%

Shares of NYSE MAGN traded down $0.05 on Monday, hitting $10.99. The company had a trading volume of 217,261 shares, compared to its average volume of 633,929. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76. Magnera Corporation has a 12-month low of $10.39 and a 12-month high of $26.78. The firm has a market capitalization of $391.24 million, a P/E ratio of -1.44 and a beta of 1.73. The business has a 50 day moving average of $12.70 and a two-hundred day moving average of $14.22.

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

Wall Street Analyst Weigh In

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

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.