Tudor Investment Corp ET AL Buys New Holdings in Magnera Corp (NYSE:MAGN)

Tudor Investment Corp ET AL bought 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 Securities and Exchange Commission. The firm bought 211,818 shares of the company's stock, valued at approximately $3,849,000. Tudor Investment Corp ET AL owned 6.05% of Magnera at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. 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 fourth quarter worth approximately $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera in the 4th quarter worth about $48,000. KBC Group NV acquired a new stake in shares of Magnera during the 4th quarter worth $51,000. Finally, National Bank of Canada FI bought a new stake in Magnera during the fourth quarter worth $52,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Stock Performance

Shares of MAGN traded up $0.01 on Tuesday, reaching $15.14. The stock had a trading volume of 205,163 shares, compared to its average volume of 481,504. The firm has a market capitalization of $535.96 million, a price-to-earnings ratio of -0.83 and a beta of 1.76. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. Magnera Corp has a 12-month low of $13.07 and a 12-month high of $26.78. The company's 50-day moving average price is $17.01.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Magnera news, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares of the company's stock, valued at $507,311.28. This trade represents a 8,495.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl J. Rickertsen bought 20,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the transaction, the director now owns 21,306 shares of the company's stock, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by insiders.

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.