Point72 Asia Singapore Pte. Ltd. Acquires Shares of 19,367 Magnera Corp (NYSE:MAGN)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,367 shares of the company's stock, valued at approximately $352,000. Point72 Asia Singapore Pte. Ltd. owned about 0.55% of Magnera at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Magnera during the 4th quarter worth approximately $1,007,000. Madison Avenue Partners LP acquired a new position in shares of Magnera during the fourth quarter worth $61,892,000. Man Group plc bought a new stake in shares of Magnera in the fourth quarter worth $862,000. Nuveen Asset Management LLC bought a new stake in shares of Magnera in the fourth quarter worth $612,000. Finally, Newtyn Management LLC acquired a new stake in Magnera in the fourth quarter valued at $16,353,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Insider Activity

In related news, Director Kevin Michael Fogarty purchased 20,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $15.15 per share, with a total value of $303,000.00. Following the completion of the purchase, the director now owns 31,538 shares in the company, valued at approximately $477,800.70. This trade represents a 173.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Curt Begle acquired 20,275 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the acquisition, the chief executive officer now directly owns 44,341 shares of the company's stock, valued at approximately $621,217.41. This trade represents a 84.25% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 80,275 shares of company stock valued at $1,266,653 in the last ninety days. 2.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Vertical Research assumed coverage on Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the stock. Wells Fargo & Company lowered Magnera from an "overweight" rating to a "reduce" rating in a research note on Wednesday, May 14th.

Magnera Stock Performance

Shares of NYSE:MAGN traded down $0.39 during trading on Wednesday, reaching $12.39. The stock had a trading volume of 179,915 shares, compared to its average volume of 545,353. Magnera Corp has a 52 week low of $12.20 and a 52 week high of $26.78. 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 fifty day moving average is $15.68. The stock has a market capitalization of $441.08 million, a PE ratio of -0.68 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($1.35). Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The firm had revenue of $824.00 million for the quarter. The company's revenue was up 47.7% on a year-over-year basis.

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.