Nuveen LLC Acquires New Position in Magnera Corporation $MAGN

Key Points

• Nuveen LLC has acquired 33,784 shares of Magnera Corporation, worth approximately $614,000, increasing its ownership to 0.09% of the company.
• Several institutional investors made significant investments in Magnera during the fourth quarter, with Madison Avenue Partners LP leading at $61.89 million, contributing to a total institutional ownership of 76.92%.
• Magnera's stock has seen a recent downgrade from "hold" to "sell" by Wall Street Zen, with Wells Fargo lowering its price target from $16.00 to $14.00.

Nuveen LLC purchased a new stake in Magnera Corporation (NYSE:MAGN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 33,784 shares of the company's stock, valued at approximately $614,000. Nuveen LLC owned 0.09% of Magnera at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN acquired a new stake in Magnera during the 4th quarter valued at approximately $154,000. Barclays PLC acquired a new position in shares of Magnera in the 4th quarter worth $135,000. Dimensional Fund Advisors LP purchased a new position in shares of Magnera during the fourth quarter valued at $16,972,000. Tower Research Capital LLC TRC purchased a new position in Magnera in the fourth quarter valued at about $165,000. Finally, Northern Trust Corp bought a new stake in shares of Magnera during the 4th quarter worth about $2,272,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Price Performance

NYSE:MAGN traded down $0.14 during trading hours on Tuesday, hitting $11.65. The stock had a trading volume of 40,381 shares, compared to its average volume of 633,235. The company has a 50 day simple moving average of $12.83 and a two-hundred day simple moving average of $14.48. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.54 and a quick ratio of 1.62. Magnera Corporation has a one year low of $10.39 and a one year high of $26.78. The firm has a market capitalization of $414.74 million, a price-to-earnings ratio of -1.52 and a beta of 1.73.

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). Magnera had a negative return on equity of 9.57% and a negative net margin of 4.98%.The company had revenue of $839.00 million for the quarter. The firm's quarterly revenue was up 50.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen lowered Magnera from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company cut their price target on Magnera from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company 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.