Khrom Capital Management LLC Makes New Investment in Magnera Corp (NYSE:MAGN)

Khrom Capital Management LLC bought a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,308,608 shares of the company's stock, valued at approximately $23,777,000. Magnera comprises about 2.7% of Khrom Capital Management LLC's holdings, making the stock its 14th largest position. Khrom Capital Management LLC owned approximately 37.39% of Magnera as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ballentine Partners LLC purchased a new stake in shares of Magnera in the fourth quarter worth about $295,000. KBC Group NV purchased a new stake in Magnera in the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magnera during the 4th quarter worth approximately $101,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera during the 4th quarter valued at approximately $48,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera during the 4th quarter valued at approximately $26,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Stock Down 0.6 %

Shares of MAGN stock traded down $0.08 during trading hours on Friday, hitting $14.39. 272,871 shares of the company's stock were exchanged, compared to its average volume of 497,212. Magnera Corp has a fifty-two week low of $13.07 and a fifty-two week high of $26.78. The company has a market capitalization of $509.41 million, a price-to-earnings ratio of -0.78 and a beta of 1.76. 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 business's 50 day moving average price is $17.78.

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

Insider Activity at Magnera

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of Magnera stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Curt Begle purchased 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price 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 of the company's stock, valued at $507,311.28. The trade was a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MAGN has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Vertical Research initiated coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the 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.