Graham Capital Management L.P. Invests $348,000 in Magnera Corp (NYSE:MAGN)

Graham Capital Management L.P. acquired a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 19,161 shares of the company's stock, valued at approximately $348,000. Graham Capital Management L.P. owned approximately 0.55% of Magnera as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAGN. Empyrean Capital Partners LP purchased a new stake in Magnera in the fourth quarter worth about $8,535,000. Engine Capital Management LP purchased a new stake in shares of Magnera in the 4th quarter worth approximately $42,851,000. Clearline Capital LP bought a new position in Magnera during the 4th quarter valued at approximately $9,204,000. Deutsche Bank AG purchased a new position in Magnera during the fourth quarter valued at $73,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in Magnera in the fourth quarter worth $12,683,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Insider Activity

In related news, Director Carl J. Rickertsen bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the acquisition, the director now owns 21,306 shares of the company's stock, valued at $433,150.98. This trade represents a 1,531.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Curt Begle bought 20,275 shares of the business's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $14.01 per share, with a total value of $284,052.75. Following the transaction, the chief executive officer now owns 44,341 shares in the company, valued at $621,217.41. This trade represents a 84.25% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 80,275 shares of company stock valued at $1,266,653 in the last 90 days. 2.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Magnera Trading Down 1.3%

MAGN traded down $0.16 during trading on Thursday, hitting $11.88. 78,368 shares of the company's stock traded hands, compared to its average volume of 545,468. The firm has a market cap of $422.93 million, a PE ratio of -0.65 and a beta of 1.76. The business's 50 day moving average is $15.54. Magnera Corp has a 12-month low of $11.77 and a 12-month high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) 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 business had revenue of $824.00 million for the quarter. The business's revenue was up 47.7% compared to the same quarter last year.

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.