Gratia Capital LLC Buys Shares of 293,227 Magnera Corp (NYSE:MAGN)

Gratia Capital LLC purchased a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 293,227 shares of the company's stock, valued at approximately $5,328,000. Magnera comprises 5.2% of Gratia Capital LLC's investment portfolio, making the stock its 5th largest position. Gratia Capital LLC owned approximately 8.38% of Magnera as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAGN. Boothbay Fund Management LLC purchased a new stake in shares of Magnera during the 4th quarter valued at $1,144,000. Susquehanna Fundamental Investments LLC bought a new stake in Magnera in the fourth quarter worth about $348,000. HBK Investments L P bought a new stake in Magnera in the fourth quarter worth about $5,832,000. Credit Industriel ET Commercial purchased a new position in Magnera in the fourth quarter valued at about $467,000. Finally, Guardian Wealth Management Inc. bought a new position in shares of Magnera during the 4th quarter valued at approximately $147,000. 76.92% of the stock is owned by institutional investors.

Magnera Trading Up 4.5 %

Shares of MAGN stock traded up $0.66 during trading on Friday, reaching $15.24. 151,329 shares of the company's stock traded hands, compared to its average volume of 485,162. Magnera Corp has a 1 year low of $13.07 and a 1 year high of $26.78. The company has a market capitalization of $539.50 million, a P/E ratio of -0.83 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The stock has a 50-day moving average price of $17.22.

Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) EPS for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period in the prior year, the business earned ($0.25) earnings per share.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MAGN. Vertical Research initiated coverage on Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective on the stock. Wells Fargo & Company upped their price target on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 7th.

Insider Buying and Selling at Magnera

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 stock was bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares of the company's stock, valued at $433,150.98. The trade was a 1,531.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Curt Begle bought 23,786 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now directly owns 24,066 shares of the company's stock, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

About Magnera

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.