Magnera (NYSE:MAGN) Releases Earnings Results

Key Points

• Magnera reported a quarterly loss of $0.56 per share, alongside a negative net margin of 3.37% and a negative return on equity of 10.30%.
• Shares fell $0.11 to $13.58, though the stock remains above its 50-day and 200-day moving averages. Magnera trades between a 12-month range of $7.82 to $15.52.
• Institutional investors own 76.92% of the company, with several funds increasing or initiating positions. Analysts maintain a cautious view, giving Magnera an average “Reduce” rating and a consensus price target of $16.00.

Magnera (NYSE:MAGN - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.56) earnings per share for the quarter, Zacks reports. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.

Magnera Stock Performance

Shares of NYSE MAGN traded down $0.11 during trading on Wednesday, reaching $13.58. 319,950 shares of the company traded hands, compared to its average volume of 399,504. The stock has a market cap of $486.02 million, a P/E ratio of -6.93 and a beta of 1.74. The firm's fifty day simple moving average is $12.60 and its 200 day simple moving average is $11.94. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. Magnera has a 12-month low of $7.82 and a 12-month high of $15.52.

Hedge Funds Weigh In On Magnera

Several institutional investors have recently made changes to their positions in MAGN. Invesco Ltd. raised its position in shares of Magnera by 82.5% in the fourth quarter. Invesco Ltd. now owns 161,834 shares of the company's stock worth $2,450,000 after acquiring an additional 73,134 shares during the period. Empowered Funds LLC boosted its holdings in Magnera by 10.8% in the 4th quarter. Empowered Funds LLC now owns 72,943 shares of the company's stock worth $1,104,000 after buying an additional 7,083 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Magnera during the fourth quarter valued at approximately $583,000. Susquehanna Portfolio Strategies LLC purchased a new position in shares of Magnera in the fourth quarter valued at approximately $449,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Magnera in the fourth quarter worth approximately $2,347,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings raised Magnera from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, June 1st. Wells Fargo & Company boosted their price objective on shares of Magnera from $13.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Magnera from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Magnera presently has an average rating of "Reduce" and a consensus price target of $16.00.

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.

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