Susquehanna Fundamental Investments LLC Invests $348,000 in Magnera Corp (NYSE:MAGN)

Susquehanna Fundamental Investments LLC bought a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 19,125 shares of the company's stock, valued at approximately $348,000. Susquehanna Fundamental Investments LLC owned approximately 0.55% of Magnera as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in Magnera in the fourth quarter valued at approximately $26,000. Vestcor Inc bought a new stake in shares of Magnera during the 4th quarter worth approximately $46,000. State of Alaska Department of Revenue bought a new stake in shares of Magnera during the 4th quarter worth $48,000. KBC Group NV acquired a new stake in shares of Magnera in the 4th quarter valued at approximately $51,000. Finally, National Bank of Canada FI acquired a new stake in shares of Magnera during the 4th quarter valued at $52,000. 76.92% of the stock is currently owned by institutional investors.

Insider Transactions at Magnera

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

Wall Street Analyst Weigh In

A number of brokerages have commented on MAGN. Vertical Research started coverage on shares of Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 7th.

Magnera Stock Up 3.2 %

NYSE:MAGN traded up $0.44 during midday trading on Friday, hitting $14.20. The company had a trading volume of 426,053 shares, compared to its average volume of 524,416. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The firm has a market cap of $502.68 million, a P/E ratio of -0.77 and a beta of 1.76. The stock has a fifty day simple moving average of $16.62. 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 results on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate 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 firm's quarterly revenue was up 47.7% on a year-over-year basis.

About Magnera

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.