Magnera (NYSE:MAGN) Shares Down 4.2% - What's Next?

Key Points

• Magnera shares fell 4.2% to about $10.62, with trading volume slightly above average. The stock’s market capitalization is approximately $380 million.
• Analyst sentiment remains cautious: Magnera has a consensus rating of “Reduce”, with two Hold ratings and one Sell rating, despite Wells Fargo raising its price target to $16.
• The company reported a quarterly loss of $0.56 per share on $857 million in revenue, with negative net margin and return on equity. Institutional investors own a substantial 76.92% of outstanding shares.

Magnera Corporation (NYSE:MAGN - Get Free Report)'s share price dropped 4.2% on Wednesday. The stock traded as low as $10.51 and last traded at $10.6210. 403,323 shares traded hands during trading, an increase of 5% from the average session volume of 384,071 shares. The stock had previously closed at $11.09.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MAGN shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Magnera in a research report on Thursday, August 27th. Wall Street Zen raised shares of Magnera from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company lifted their target price on shares of Magnera from $13.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Magnera presently has a consensus rating of "Reduce" and an average price target of $16.00.

Magnera Stock Down 4.2%

The stock has a fifty day moving average price of $11.98 and a 200 day moving average price of $11.70. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.45 and a quick ratio of 1.57. The stock has a market capitalization of $380.23 million, a P/E ratio of -5.28 and a beta of 1.75.

Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.56) earnings per share for the quarter. The company had revenue of $857.00 million during the quarter. Magnera had a negative net margin of 3.41% and a negative return on equity of 10.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MAGN. Newtyn Management LLC lifted its stake in Magnera by 1.4% in the 2nd quarter. Newtyn Management LLC now owns 2,800,000 shares of the company's stock worth $32,900,000 after purchasing an additional 40,000 shares in the last quarter. Clearline Capital LP grew its position in shares of Magnera by 272.4% during the 4th quarter. Clearline Capital LP now owns 660,605 shares of the company's stock valued at $10,002,000 after purchasing an additional 483,204 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Magnera during the 2nd quarter valued at $4,356,000. Seven Six Capital Management LLC grew its position in shares of Magnera by 33.2% during the 1st quarter. Seven Six Capital Management LLC now owns 374,868 shares of the company's stock valued at $3,565,000 after purchasing an additional 93,350 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Magnera by 22.1% during the 2nd quarter. Squarepoint Ops LLC now owns 217,272 shares of the company's stock valued at $2,553,000 after purchasing an additional 39,394 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company's stock.

About Magnera

Magnera Corporation is a global manufacturer of specialty nonwoven materials and engineered products. Its portfolio includes airlaid, spunlace, spunbond, meltblown and needlepunched nonwovens, as well as films, laminates, composites, coated materials and other performance solutions.

The company supplies materials used in a range of consumer, healthcare and industrial applications. Its products support hygiene and personal-care goods, medical and healthcare products, wipes, filtration, construction and roofing materials, food and industrial packaging, transportation, and other specialized markets.

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