Magnera (NYSE:MAGN) Coverage Initiated by Analysts at Vertical Research

Vertical Research started coverage on shares of Magnera (NYSE:MAGN) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage issued a hold rating and a $21.00 target price on the stock.

Separately, Wells Fargo & Company increased their price target on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 7th.

Magnera Stock Down 2.0 %

Shares of Magnera stock opened at $18.65 on Wednesday. Magnera has a 12 month low of $15.80 and a 12 month high of $26.78. The business’s fifty day moving average is $19.78. 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 firm has a market capitalization of $660.21 million, a PE ratio of -1.02 and a beta of 1.66.

Magnera (NYSE:MAGN) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) 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 last year, the firm posted ($0.25) EPS.

Insider Activity at Magnera

In related news, CEO Curt Begle bought 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, with a total value of $501,408.88. Following the completion of the transaction, the chief executive officer now owns 24,066 shares in the company, valued at $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carl J. Rickertsen acquired 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now owns 21,306 shares in the company, 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 owned by insiders.

Hedge Funds Weigh In On Magnera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Magnera in the 4th quarter valued at $26,000. Shell Asset Management Co. bought a new position in Magnera during the fourth quarter worth about $41,000. Vestcor Inc acquired a new position in shares of Magnera during the 4th quarter worth approximately $46,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera in the fourth quarter valued at approximately $48,000. Finally, KBC Group NV bought a new stake in shares of Magnera in the fourth quarter valued at approximately $51,000. 76.92% of the stock is owned by institutional investors.

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.