Dimensional Fund Advisors LP Has $2.42 Million Stock Position in Magnera Corporation $MAGN

Key Points

• Dimensional Fund Advisors more than doubled its Magnera position in the first quarter, adding 131,772 shares to own 253,908 shares valued at approximately $2.42 million. Institutional investors and hedge funds collectively own 76.92% of the company.
• Analyst sentiment remains cautious: Magnera has an average rating of “Reduce”, with two Hold ratings and one Sell rating, while the consensus price target is $16. Wells Fargo raised its target to $16 but maintained an Equal Weight rating.
• Magnera reported a quarterly loss of $0.56 per share on $857 million in revenue. Shares opened at $12.20, down 2%, and the company continues to show negative profitability metrics, including a 3.41% net margin and 10.77% return on equity.

Dimensional Fund Advisors LP boosted its holdings in Magnera Corporation (NYSE:MAGN - Free Report) by 107.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,908 shares of the company's stock after buying an additional 131,772 shares during the period. Dimensional Fund Advisors LP owned approximately 0.71% of Magnera worth $2,415,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in Magnera by 882.9% in the 4th quarter. GSA Capital Partners LLP now owns 128,095 shares of the company's stock valued at $1,939,000 after purchasing an additional 115,062 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Magnera by 178.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 78,572 shares of the company's stock valued at $747,000 after purchasing an additional 50,393 shares in the last quarter. Clearline Capital LP boosted its stake in Magnera by 272.4% in the 4th quarter. Clearline Capital LP now owns 660,605 shares of the company's stock valued at $10,002,000 after buying an additional 483,204 shares in the last quarter. JB Capital Partners LP grew its holdings in shares of Magnera by 202.9% in the 4th quarter. JB Capital Partners LP now owns 515,000 shares of the company's stock worth $7,797,000 after purchasing an additional 345,000 shares during the last quarter. Finally, Aristeia Capital L.L.C. bought a new stake in Magnera during the fourth quarter worth about $954,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on Magnera from $13.00 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 15th. Wall Street Zen upgraded shares of Magnera from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised Magnera from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Magnera presently has an average rating of "Reduce" and a consensus target price of $16.00.

Magnera Trading Down 2.0%

NYSE MAGN opened at $12.20 on Friday. The stock's 50 day moving average price is $12.73 and its two-hundred day moving average price is $11.88. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.45. The stock has a market capitalization of $436.65 million, a price-to-earnings ratio of -6.07 and a beta of 1.74. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52.

Magnera (NYSE:MAGN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.56) EPS for the quarter. Magnera had a negative return on equity of 10.77% and a negative net margin of 3.41%.The business had revenue of $857.00 million for the quarter.

About Magnera

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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