Seven Six Capital Management LLC Makes New $3.14 Million Investment in Magnera Corp (NYSE:MAGN)

Seven Six Capital Management LLC purchased a new position in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 172,864 shares of the company's stock, valued at approximately $3,141,000. Magnera accounts for approximately 2.7% of Seven Six Capital Management LLC's holdings, making the stock its 19th biggest position. Seven Six Capital Management LLC owned about 4.94% of Magnera at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in shares of Magnera during the 4th quarter worth approximately $295,000. KBC Group NV acquired a new stake in shares of Magnera during the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magnera during the 4th quarter worth approximately $101,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera during the 4th quarter valued at approximately $48,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera during the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Analyst Ratings Changes

MAGN has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Magnera from an "overweight" rating to a "reduce" rating in a research report on Wednesday, May 14th. Vertical Research initiated coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the stock.

Insider Buying and Selling at Magnera

In related news, CEO Curt Begle bought 20,275 shares of the firm's stock in a transaction on Friday, May 9th. The shares were bought at an average price of $14.01 per share, with a total value of $284,052.75. Following the completion of the transaction, the chief executive officer now directly owns 44,341 shares of the company's stock, valued at $621,217.41. This represents a 84.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Michael Fogarty purchased 20,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $15.15 per share, for a total transaction of $303,000.00. Following the completion of the purchase, the director now directly owns 31,538 shares of the company's stock, valued at $477,800.70. This represents a 173.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 80,275 shares of company stock worth $1,266,653. Corporate insiders own 2.26% of the company's stock.

Magnera Trading Up 3.3%

MAGN stock traded up $0.41 during midday trading on Tuesday, reaching $12.78. The stock had a trading volume of 563,745 shares, compared to its average volume of 549,393. The firm has a fifty day moving average price of $15.80. 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 stock has a market cap of $454.97 million, a P/E ratio of -0.70 and a beta of 1.76. Magnera Corp has a 52-week low of $12.20 and a 52-week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($1.35). The firm had revenue of $824.00 million during the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The business's revenue for the quarter 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.