Two Sigma Investments LP Acquires New Shares in Magnera Corp (NYSE:MAGN)

Two Sigma Investments LP purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 32,596 shares of the company's stock, valued at approximately $592,000. Two Sigma Investments LP owned 0.93% of Magnera at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Magnera during the fourth quarter worth about $26,000. Shell Asset Management Co. bought a new position in Magnera during the 4th quarter valued at $41,000. Vestcor Inc bought a new position in Magnera during the 4th quarter valued at $46,000. State of Alaska Department of Revenue bought a new stake in shares of Magnera in the 4th quarter worth about $48,000. Finally, KBC Group NV acquired a new stake in shares of Magnera in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Analyst Ratings Changes

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

Magnera Stock Up 1.6%

MAGN stock traded up $0.21 during trading on Monday, hitting $13.45. 401,478 shares of the company's stock traded hands, compared to its average volume of 546,839. The firm's fifty day moving average price is $13.95. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. Magnera Corp has a 52 week low of $11.43 and a 52 week high of $26.78. The stock has a market cap of $478.82 million, a PE ratio of -0.73 and a beta of 1.66.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($1.35). Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business had revenue of $824.00 million for the quarter. The company's revenue for the quarter was up 47.7% on a year-over-year basis.

Insider Buying and Selling

In other Magnera news, Director Bruce Brown bought 16,940 shares of the business's stock in a transaction on Thursday, May 29th. The shares were purchased at an average price of $11.81 per share, with a total value of $200,061.40. Following the purchase, the director now directly owns 17,228 shares of the company's stock, valued at approximately $203,462.68. The trade was a 5,881.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl J. Rickertsen purchased 20,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $13.65 per share, for a total transaction of $273,000.00. Following the completion of the transaction, the director now directly owns 41,306 shares in the company, valued at $563,826.90. This represents a 93.87% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 94,215 shares of company stock valued at $1,263,094. Insiders own 2.26% of the company's stock.

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.