UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.04 Million Position in Magnera Corp (NYSE:MAGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,217 shares of the company's stock, valued at approximately $1,040,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.63% of Magnera as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Magnera during the 4th quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Magnera during the fourth quarter worth about $101,000. State of Alaska Department of Revenue bought a new position in shares of Magnera during the fourth quarter valued at approximately $48,000. Wilmington Savings Fund Society FSB bought a new position in Magnera in the fourth quarter worth about $26,000. Finally, Rhumbline Advisers purchased a new position in Magnera during the fourth quarter valued at $55,000. 76.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bruce Brown bought 16,940 shares of Magnera stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of $11.81 per share, for a total transaction of $200,061.40. Following the completion of the acquisition, the director now owns 17,228 shares of the company's stock, valued at $203,462.68. This trade represents a 5,881.94% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Curt Begle purchased 20,275 shares of the firm's stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $14.01 per share, with a total value of $284,052.75. Following the completion of the transaction, the chief executive officer now owns 44,341 shares of the company's stock, valued at approximately $621,217.41. The trade was a 84.25% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 94,215 shares of company stock worth $1,263,094 in the last three months. Corporate insiders own 2.26% of the company's stock.

Magnera Stock Down 3.5%

MAGN traded down $0.48 during trading on Friday, reaching $13.41. The company had a trading volume of 41,871 shares, compared to its average volume of 567,068. The company has a market capitalization of $477.40 million, a PE ratio of -0.73 and a beta of 1.66. Magnera Corp has a 52 week low of $11.43 and a 52 week high of $26.78. The business's 50 day moving average is $13.77. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAGN shares. Wells Fargo & Company cut shares of Magnera from an "overweight" rating to a "reduce" rating in a report on Wednesday, May 14th. Vertical Research began coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective on the stock.

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.