Magnera Corp (NYSE:MAGN - Get Free Report) Director Carl J. Rickertsen acquired 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now owns 21,306 shares of the company's stock, valued at approximately $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Magnera Price Performance
NYSE:MAGN opened at $20.61 on Friday. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $29.77. The firm has a market capitalization of $729.59 million, a PE ratio of -1.12 and a beta of 1.67. 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 (NYSE:MAGN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (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 earned ($0.25) earnings per share.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company raised their target price on Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 7th.
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Institutional Trading of Magnera
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAGN. Ballentine Partners LLC bought a new position in shares of Magnera during the 4th quarter worth approximately $295,000. KBC Group NV acquired a new position in Magnera in the fourth quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Magnera in the fourth quarter valued at about $101,000. State of Alaska Department of Revenue bought a new stake in Magnera during the fourth quarter worth about $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Magnera during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 76.92% of the company's stock.
Magnera Company Profile
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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.
Further Reading
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