Newtyn Management LLC Purchases 400,000 Shares of Magnera Corporation $MAGN

Key Points

• Newtyn Management LLC increased its stake in Magnera Corporation by 44.4%, acquiring an additional 400,000 shares during the first quarter, now holding 1,300,000 shares valued at approximately $23.6 million.
• Magnera's recent quarterly earnings showed a revenue increase of 50.9% year-over-year, although it reported a loss of ($0.51) EPS, missing estimates by ($0.54).
• Analysts have a mixed outlook for Magnera, with Wells Fargo lowering its price target from $16.00 to $14.00 and a consensus average target price of $17.50 reflecting an overall "Hold" rating.

Newtyn Management LLC lifted its position in shares of Magnera Corporation (NYSE:MAGN - Free Report) by 44.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300,000 shares of the company's stock after purchasing an additional 400,000 shares during the period. Magnera accounts for 3.8% of Newtyn Management LLC's portfolio, making the stock its 11th largest holding. Newtyn Management LLC owned 3.65% of Magnera worth $23,608,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Madison Avenue Partners LP acquired a new position in shares of Magnera during the 4th quarter worth about $61,892,000. Vanguard Group Inc. increased its stake in shares of Magnera by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,896,519 shares of the company's stock worth $52,601,000 after purchasing an additional 12,229 shares during the last quarter. Engine Capital Management LP acquired a new position in Magnera in the 4th quarter valued at about $42,851,000. Littlejohn & Co. LLC grew its stake in Magnera by 38.3% in the 1st quarter. Littlejohn & Co. LLC now owns 1,948,060 shares of the company's stock valued at $35,377,000 after buying an additional 539,654 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in Magnera by 1.3% in the 1st quarter. Ancora Advisors LLC now owns 1,675,575 shares of the company's stock valued at $30,428,000 after buying an additional 21,895 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Stock Performance

NYSE MAGN traded down $0.29 during trading on Wednesday, reaching $11.41. The company's stock had a trading volume of 161,763 shares, compared to its average volume of 632,798. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $406.20 million, a price-to-earnings ratio of -1.49 and a beta of 1.73. Magnera Corporation has a 12 month low of $10.39 and a 12 month high of $26.78. The firm has a 50 day moving average price of $12.81 and a 200 day moving average price of $14.46.

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

Analysts Set New Price Targets

A number of research analysts recently commented on MAGN shares. Wells Fargo & Company decreased their price target on shares of Magnera from $16.00 to $14.00 and set an "equal weight" rating on the stock 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 note on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Magnera presently has a consensus rating of "Hold" and an average 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.