Jefferies Financial Group Inc. Invests $614,000 in Magnera Corp (NYSE:MAGN)

Jefferies Financial Group Inc. purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,770 shares of the company's stock, valued at approximately $614,000. Jefferies Financial Group Inc. owned 0.96% of Magnera at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in Magnera in the 4th quarter worth about $26,000. Vestcor Inc purchased a new stake in shares of Magnera in the fourth quarter valued at approximately $46,000. State of Alaska Department of Revenue acquired a new position in shares of Magnera during the 4th quarter worth approximately $48,000. KBC Group NV purchased a new position in shares of Magnera during the 4th quarter valued at approximately $51,000. Finally, National Bank of Canada FI purchased a new position in shares of Magnera during the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Insider Buying and Selling at Magnera

In other Magnera news, Director Kevin Michael Fogarty bought 20,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $15.15 per share, with a total value of $303,000.00. Following the purchase, the director now directly owns 31,538 shares of the company's stock, valued at $477,800.70. This trade represents a 173.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Curt Begle purchased 20,275 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $14.01 per share, with a total value of $284,052.75. Following the completion of the transaction, the chief executive officer now directly owns 44,341 shares of the company's stock, valued at approximately $621,217.41. This represents a 84.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 80,275 shares of company stock worth $1,266,653. Corporate insiders own 2.26% of the company's stock.

Analyst Ratings Changes

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

Magnera Trading Down 1.6%

NYSE:MAGN traded down $0.19 during trading hours on Thursday, hitting $11.85. 95,247 shares of the stock were exchanged, compared to its average volume of 545,568. Magnera Corp has a 52-week low of $11.77 and a 52-week high of $26.78. The business's fifty day simple moving average is $15.54. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The firm has a market cap of $421.86 million, a P/E ratio of -0.65 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $824.00 million during the quarter. The company's revenue for the quarter 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.