DG Capital Management LLC Raises Stock Holdings in Magnera Corporation $MAGN

Key Points

• DG Capital Management LLC increased its stake in Magnera Corporation by 117.9% during Q1, owning 760,278 shares worth approximately $13.8 million.
• Magnera's quarterly earnings report showed a loss of ($0.51) per share, missing estimates by ($0.54), despite a revenue increase of 50.9% year-over-year.
• Institutional investors control 76.92% of Magnera's stock, indicating a significant interest from hedge funds and other investment firms.

DG Capital Management LLC lifted its position in shares of Magnera Corporation (NYSE:MAGN - Free Report) by 117.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 760,278 shares of the company's stock after purchasing an additional 411,324 shares during the period. Magnera accounts for approximately 4.9% of DG Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. DG Capital Management LLC owned approximately 2.14% of Magnera worth $13,807,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Magnera by 11,193.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,694 shares of the company's stock worth $31,000 after purchasing an additional 1,679 shares during the period. Shell Asset Management Co. bought a new position in shares of Magnera during the fourth quarter worth approximately $41,000. Marshall Wace LLP increased its stake in shares of Magnera by 3.0% during the fourth quarter. Marshall Wace LLP now owns 107,230 shares of the company's stock worth $1,948,000 after purchasing an additional 3,161 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Magnera during the 4th quarter worth $58,000. Finally, GAMMA Investing LLC raised 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 valued at $68,000 after acquiring an additional 3,454 shares in the last quarter. Institutional investors own 76.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped 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. Wall Street Zen cut Magnera from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Magnera has an average rating of "Hold" and an average price target of $17.50.

Magnera Price Performance

Shares of MAGN traded up $0.04 during midday trading on Friday, hitting $12.36. The company's stock had a trading volume of 143,697 shares, compared to its average volume of 625,787. Magnera Corporation has a one year low of $10.39 and a one year high of $26.78. The company's fifty day simple moving average is $12.88 and its two-hundred day simple moving average is $15.08. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $440.02 million, a price-to-earnings ratio of -1.62 and a beta of 1.67.

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

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.