Magnera (NYSE:MAGN) Stock Price Up 0.3% - Here's Why

Key Points

• Shares of Magnera traded up about 0.3%
• Several analysts have cut ratings recently and the consensus from MarketBeat is a "Reduce" rating with an average price target of $14.00.
• Fundamentals show a negative EPS (-$0.34), negative net margin and ROE, but solid liquidity (current ratio 2.45, quick ratio 1.60) and heavy institutional ownership (about 76.9%) with several large recent buys.

Magnera Corporation (NYSE:MAGN - Get Free Report) shares rose 0.3% on Thursday . The stock traded as high as $10.46 and last traded at $10.3620. Approximately 268,894 shares were traded during trading, a decline of 31% from the average daily volume of 388,530 shares. The stock had previously closed at $10.33.

Analyst Upgrades and Downgrades

MAGN has been the topic of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Magnera in a research note on Monday, December 29th. Wells Fargo & Company cut shares of Magnera from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $19.00 to $12.00 in a research report on Friday, March 20th. Wall Street Zen cut shares of Magnera from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Finally, Vertical Research cut shares of Magnera from a "buy" rating to a "hold" rating and set a $16.00 target price for the company. in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $14.00.

Magnera Trading Up 0.3%

The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The stock has a market cap of $372.00 million, a P/E ratio of -3.97 and a beta of 1.75. The firm's 50-day simple moving average is $11.06 and its 200 day simple moving average is $12.01.

Magnera (NYSE:MAGN - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported ($0.34) EPS for the quarter. Magnera had a negative return on equity of 12.30% and a negative net margin of 4.04%.The firm had revenue of $792.00 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in shares of Magnera in the fourth quarter valued at approximately $15,059,000. Nuveen LLC boosted its holdings in shares of Magnera by 969.6% in the fourth quarter. Nuveen LLC now owns 823,177 shares of the company's stock valued at $12,463,000 after acquiring an additional 746,215 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Magnera by 427.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 786,083 shares of the company's stock valued at $11,901,000 after acquiring an additional 637,041 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Magnera in the fourth quarter valued at approximately $8,445,000. Finally, Clearline Capital LP boosted its holdings in shares of Magnera by 272.4% in the fourth quarter. Clearline Capital LP now owns 660,605 shares of the company's stock valued at $10,002,000 after acquiring an additional 483,204 shares in the last quarter. Institutional investors own 76.92% of the company's stock.

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.

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