Charles Schwab Investment Management Inc. Acquires 24,651 Shares of Magnera Corporation $MAGN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Magnera Corporation by 38.0%, owning approximately 0.25% of the company valued at $1.6 million as of the latest SEC filing.
• Several institutional investors, including Vanguard Group and Mirae Asset Global Investments, have also adjusted their positions, with total institutional ownership in Magnera at 76.92%.
• Magnera Corporation reported a loss of $0.51 EPS for the quarter, significantly missing expectations, despite achieving a 50.9% year-over-year increase in revenue to $839 million.

Charles Schwab Investment Management Inc. increased its position in Magnera Corporation (NYSE:MAGN - Free Report) by 38.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 89,572 shares of the company's stock after acquiring an additional 24,651 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.25% of Magnera worth $1,627,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Shell Asset Management Co. purchased a new stake in Magnera in the 4th quarter worth about $41,000. GAMMA Investing LLC increased its holdings in Magnera by 1,132.5% in the 1st quarter. GAMMA Investing LLC now owns 3,759 shares of the company's stock worth $68,000 after acquiring an additional 3,454 shares during the last quarter. Deutsche Bank AG purchased a new stake in Magnera in the 4th quarter worth about $73,000. Lazard Asset Management LLC purchased a new stake in Magnera in the 4th quarter worth about $97,000. Finally, Barclays PLC purchased a new stake in Magnera in the 4th quarter worth about $135,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Magnera Price Performance

MAGN stock traded up $0.04 during mid-day trading on Friday, reaching $11.98. 755,991 shares of the company traded hands, compared to its average volume of 513,104. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.54 and a quick ratio of 1.62. The company has a market capitalization of $426.49 million, a P/E ratio of -1.57 and a beta of 1.73. Magnera Corporation has a 52-week low of $10.39 and a 52-week high of $26.78. The company has a fifty day moving average price of $12.84 and a 200-day moving average price of $14.65.

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

Wall Street Analyst Weigh In

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

Magnera 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.