272,535 Shares in Magnera Corp (NYSE:MAGN) Purchased by Jane Street Group LLC

Jane Street Group LLC acquired a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 272,535 shares of the company's stock, valued at approximately $4,952,000. Jane Street Group LLC owned approximately 7.79% of Magnera as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in shares of Magnera in the fourth quarter valued at about $52,408,000. Khrom Capital Management LLC acquired a new stake in Magnera in the fourth quarter valued at approximately $23,777,000. Fuller & Thaler Asset Management Inc. acquired a new position in Magnera during the fourth quarter worth $23,657,000. LSV Asset Management acquired a new position in Magnera during the 4th quarter valued at about $18,382,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Magnera during the fourth quarter valued at about $16,972,000. 76.92% of the stock is owned by institutional investors.

Insider Activity at Magnera

In related news, CEO Curt Begle bought 20,275 shares of the business's stock in a transaction that occurred 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 completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, with a total value of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares in the company, valued at $433,150.98. This represents a 1,531.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 60,275 shares of company stock valued at $993,653. 2.26% of the stock is owned by corporate insiders.

Magnera Price Performance

NYSE:MAGN traded down $0.95 during mid-day trading on Wednesday, reaching $14.10. 756,653 shares of the company's stock traded hands, compared to its average volume of 542,941. 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 firm has a market cap of $501.96 million, a price-to-earnings ratio of -0.77 and a beta of 1.76. The firm's 50 day moving average is $16.31. Magnera Corp has a 12-month low of $12.20 and a 12-month high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last posted 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). The business had revenue of $824.00 million for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business's revenue for the quarter was up 47.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company downgraded Magnera from an "overweight" rating to a "reduce" rating in a research report on Wednesday. Vertical Research began coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price target for the company.

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.