Magnera (NYSE:MAGN) Trading Down 1.2% - Here's What Happened

Key Points

• Shares fell 1.2% to $10.93 on Friday with 270,859 shares traded (down 32% from the average of 398,005), and the stock sits below both its 50‑day ($13.55) and 200‑day ($12.35) moving averages.
• Analyst sentiment is mixed but tepid — the consensus rating is "Hold" with an average target price of $17.50; recent notes include Wells Fargo raising its target to $19/overweight while Wall Street Zen, Vertical Research and Weiss have moved toward hold/sell stances.
• Company fundamentals show weakness: quarterly EPS was ‑$0.34, net margin was ‑4.04% and ROE ‑12.3%, with a market cap of about $392.5M and high institutional ownership (~76.9%).

Magnera Corporation (NYSE:MAGN - Get Free Report)'s share price traded down 1.2% on Friday . The stock traded as low as $10.86 and last traded at $10.9330. 270,859 shares traded hands during trading, a decline of 32% from the average session volume of 398,005 shares. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Magnera from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Wells Fargo & Company boosted their target price on Magnera from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Vertical Research lowered Magnera from a "buy" rating to a "hold" rating and set a $16.00 target price for the company. in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Magnera in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $17.50.

Magnera Stock Performance

The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.60 and a current ratio of 2.45. The company has a market cap of $392.49 million, a PE ratio of -4.19 and a beta of 1.69. The company's 50 day moving average price is $13.55 and its 200-day moving average price is $12.35.

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

Institutional Investors Weigh In On Magnera

Large investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd boosted its position in Magnera by 333.2% during the second quarter. Dynamic Technology Lab Private Ltd now owns 49,644 shares of the company's stock worth $600,000 after purchasing an additional 38,185 shares during the period. Readystate Asset Management LP raised its position in shares of Magnera by 60.9% in the third quarter. Readystate Asset Management LP now owns 210,350 shares of the company's stock valued at $2,465,000 after purchasing an additional 79,629 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Magnera by 118.1% in the third quarter. Assenagon Asset Management S.A. now owns 753,906 shares of the company's stock valued at $8,836,000 after purchasing an additional 408,181 shares during the period. Engine Capital Management LP lifted its stake in shares of Magnera by 5.3% during the 2nd quarter. Engine Capital Management LP now owns 2,481,317 shares of the company's stock valued at $29,974,000 after buying an additional 124,076 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Magnera by 110.0% during the 2nd quarter. Geode Capital Management LLC now owns 783,413 shares of the company's stock valued at $9,465,000 after buying an additional 410,303 shares in the last quarter. Hedge funds and other 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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