Soros Fund Management LLC Invests $5 Million in Magnera Corp (NYSE:MAGN)

Soros Fund Management LLC bought a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 275,000 shares of the company's stock, valued at approximately $4,997,000. Soros Fund Management LLC owned approximately 7.86% of Magnera at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in Magnera during the fourth quarter valued at $55,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Magnera in the 4th quarter valued at about $101,000. Swiss National Bank acquired a new stake in Magnera in the 4th quarter worth about $1,267,000. Ballentine Partners LLC purchased a new stake in Magnera during the 4th quarter worth approximately $295,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Magnera during the fourth quarter valued at approximately $376,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Magnera Price Performance

MAGN opened at $14.65 on Tuesday. The stock has a market cap of $518.61 million, a price-to-earnings ratio of -0.80 and a beta of 1.76. The business has a 50 day simple moving average of $17.62. Magnera Corp has a 1-year low of $13.07 and a 1-year high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) EPS for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period in the previous year, the company posted ($0.25) EPS.

Wall Street Analysts Forecast Growth

MAGN has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Vertical Research began coverage on shares of Magnera in a research note on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the stock.

Insider Transactions at Magnera

In other news, Director Carl J. Rickertsen purchased 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $20.33 per share, with a total value of $406,600.00. Following the purchase, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the transaction, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

Magnera 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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