Invesco Ltd. Acquires 21,588 Shares of Magnera Corporation $MAGN

Key Points

• Invesco Ltd. has significantly increased its stake in Magnera Corporation, acquiring an additional 21,588 shares and raising its ownership to 32,676 shares, which is approximately 0.09% of the company valued at $593,000.
• Magnera's recent earnings report revealed a loss of ($0.51) EPS, missing expectations, even as revenue increased by 50.9% year-over-year to $839 million.
• Institutional investors own 76.92% of Magnera's stock, indicating a high level of institutional interest, with several hedge funds making significant investments in recent months.

Invesco Ltd. grew its stake in Magnera Corporation (NYSE:MAGN - Free Report) by 194.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,676 shares of the company's stock after acquiring an additional 21,588 shares during the period. Invesco Ltd. owned 0.09% of Magnera worth $593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MAGN. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of 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 valued at $31,000 after purchasing an additional 1,679 shares during the period. Shell Asset Management Co. bought a new position in Magnera during the fourth quarter worth about $41,000. GAMMA Investing LLC grew its holdings in Magnera by 1,132.5% during the first quarter. GAMMA Investing LLC now owns 3,759 shares of the company's stock worth $68,000 after purchasing an additional 3,454 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Magnera by 15.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 27,091 shares of the company's stock valued at $492,000 after buying an additional 3,598 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Magnera Stock Performance

NYSE:MAGN traded up $0.04 during mid-day trading on Friday, hitting $11.98. 755,991 shares of the stock were exchanged, compared to its average volume of 513,104. The stock has a market capitalization of $426.49 million, a price-to-earnings ratio of -1.57 and a beta of 1.73. The firm's 50-day simple moving average is $12.84 and its 200 day simple moving average is $14.60. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.62 and a current ratio of 2.54. Magnera Corporation has a fifty-two week low of $10.39 and a fifty-two week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.54). The firm 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 firm's revenue was up 50.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

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

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.