Jefferies Financial Group Inc. Acquires New Shares in Magnera Corp (NYSE:MAGN)

Jefferies Financial Group Inc. acquired a new position in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 33,770 shares of the company's stock, valued at approximately $614,000. Jefferies Financial Group Inc. owned about 0.10% of Magnera at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Magnera during the 4th quarter worth about $26,000. Shell Asset Management Co. bought a new position in Magnera during the fourth quarter valued at about $41,000. Vestcor Inc bought a new position in Magnera during the fourth quarter valued at about $46,000. State of Alaska Department of Revenue bought a new position in shares of Magnera in the fourth quarter worth about $48,000. Finally, KBC Group NV bought a new position in shares of Magnera in the fourth quarter worth about $51,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Stock Performance

Shares of MAGN stock traded up $0.19 during trading hours on Friday, hitting $12.00. The company had a trading volume of 713,449 shares, compared to its average volume of 549,955. Magnera Corp has a 12 month low of $11.43 and a 12 month high of $26.78. The company has a market cap of $427.20 million, a price-to-earnings ratio of -0.65 and a beta of 1.76. The stock's fifty day moving average is $14.54. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.35). The business had revenue of $824.00 million during the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business's quarterly revenue was up 47.7% compared to the same quarter last year.

Insider Transactions at Magnera

In related news, Director Bruce Brown acquired 16,940 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $11.81 per share, for a total transaction of $200,061.40. Following the transaction, the director now directly owns 17,228 shares of the company's stock, valued at approximately $203,462.68. This trade represents a 5,881.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Curt Begle acquired 20,275 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $14.01 per share, with a total value of $284,052.75. Following the transaction, the chief executive officer now directly owns 44,341 shares in the company, valued at $621,217.41. The trade was a 84.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 94,215 shares of company stock valued at $1,263,094 in the last three months. 2.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MAGN has been the topic of a number of recent analyst reports. Vertical Research assumed coverage on Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective on the stock. Wells Fargo & Company cut Magnera from an "overweight" rating to a "reduce" rating in a research report on Wednesday, May 14th.

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.