Northern Trust Corp Takes $2.27 Million Position in Magnera Corp (NYSE:MAGN)

Northern Trust Corp bought a new position in Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 125,030 shares of the company's stock, valued at approximately $2,272,000. Northern Trust Corp owned approximately 3.57% of Magnera as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new position in Magnera during the 4th quarter worth approximately $3,849,000. Public Employees Retirement Association of Colorado purchased a new position in Magnera during the 4th quarter worth approximately $58,000. Gratia Capital LLC purchased a new position in Magnera during the 4th quarter worth approximately $5,328,000. Boothbay Fund Management LLC purchased a new position in Magnera during the 4th quarter worth approximately $1,144,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Magnera during the 4th quarter worth approximately $348,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $20.33 per share, with a total value of $406,600.00. Following the purchase, the director now directly owns 21,306 shares in the company, valued at $433,150.98. This trade represents a 1,531.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Curt Begle bought 20,275 shares of the stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $14.01 per share, for a total transaction of $284,052.75. Following the purchase, the chief executive officer now 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. In the last quarter, insiders purchased 80,275 shares of company stock valued at $1,266,653. 2.26% of the stock is owned by corporate insiders.

Magnera Stock Down 4.3%

Shares of NYSE:MAGN traded down $0.52 during trading on Wednesday, hitting $11.59. 440,455 shares of the stock traded hands, compared to its average volume of 553,478. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The stock has a market capitalization of $412.60 million, a P/E ratio of -0.63 and a beta of 1.76. The business's fifty day simple moving average is $14.96. Magnera Corp has a 52-week low of $11.55 and a 52-week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly 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 company 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 firm's revenue for the quarter was up 47.7% on a year-over-year basis.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Magnera from an "overweight" rating to a "reduce" rating in a research report on Wednesday, May 14th. Vertical Research started coverage on shares of Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company.

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.