Magnera Corporation $MAGN Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Magnera Corporation by 102.7%, now owning approximately 53,100 shares valued at $964,000 after purchasing an additional 26,900 shares.
• Despite a negative earnings report with an EPS of ($0.51), Magnera's revenue increased by 50.9% year-over-year, reaching $839 million.
• Analysts have adjusted their price targets for Magnera, with Wells Fargo reducing its target from $16.00 to $14.00, and MarketBeat reporting an average target of $17.50 with a consensus rating of "Hold."

OMERS ADMINISTRATION Corp grew its position in Magnera Corporation (NYSE:MAGN - Free Report) by 102.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,100 shares of the company's stock after acquiring an additional 26,900 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.15% of Magnera worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Madison Avenue Partners LP bought a new stake in shares of Magnera in the 4th quarter valued at approximately $61,892,000. Vanguard Group Inc. increased its holdings in shares of Magnera by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,896,519 shares of the company's stock valued at $52,601,000 after acquiring an additional 12,229 shares during the last quarter. Engine Capital Management LP bought a new stake in shares of Magnera in the 4th quarter valued at approximately $42,851,000. Littlejohn & Co. LLC increased its holdings in shares of 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 acquiring an additional 539,654 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Magnera by 1.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,316,988 shares of the company's stock valued at $23,916,000 after acquiring an additional 14,997 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.

Magnera Stock Performance

MAGN stock traded up $0.04 during trading on Friday, reaching $11.98. 755,991 shares of the company's stock were exchanged, compared to its average volume of 513,104. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76. Magnera Corporation has a 1-year low of $10.39 and a 1-year high of $26.78. The company's fifty day moving average price is $12.84 and its 200-day moving average price is $14.60. The firm has a market cap of $426.49 million, a PE ratio of -1.57 and a beta of 1.73.

Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $839.00 million for the quarter. The firm's revenue for the quarter was up 50.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MAGN shares. Wall Street Zen lowered Magnera from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company reduced their price objective on Magnera from $16.00 to $14.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently 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.