Jump Financial LLC Invests $465,000 in Magnera Corp (NYSE:MAGN)

Jump Financial LLC bought a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,600 shares of the company's stock, valued at approximately $465,000. Jump Financial LLC owned 0.73% of Magnera at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in Magnera during the 4th quarter valued at $52,408,000. LSV Asset Management purchased a new stake in shares of Magnera in the 4th quarter worth $18,382,000. Loomis Sayles & Co. L P purchased a new stake in shares of Magnera in the 4th quarter worth $10,969,000. Geode Capital Management LLC purchased a new stake in shares of Magnera in the 4th quarter worth $6,491,000. Finally, DG Capital Management LLC purchased a new stake in shares of Magnera in the 4th quarter worth $6,340,000. Institutional investors own 76.92% of the company's stock.

Insider Transactions at Magnera

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of Magnera stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now directly owns 21,306 shares of the company's stock, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Curt Begle bought 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on MAGN shares. Wells Fargo & Company upped their target price on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Vertical Research started coverage on 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 0.3 %

Shares of MAGN traded down $0.05 during trading hours on Wednesday, hitting $14.70. The company had a trading volume of 333,345 shares, compared to its average volume of 492,810. The company has a market cap of $520.38 million, a P/E ratio of -0.80 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. Magnera Corp has a one year low of $13.07 and a one year high of $26.78. The business's fifty day moving average price is $17.34.

Magnera (NYSE:MAGN - Get Free Report) last released 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.

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.