26,210 Shares in Magnera Corp (NYSE:MAGN) Purchased by Trexquant Investment LP

Trexquant Investment LP purchased a new stake in shares of Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 26,210 shares of the company’s stock, valued at approximately $476,000. Trexquant Investment LP owned approximately 0.75% of Magnera at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera in the fourth quarter valued at $26,000. Vestcor Inc bought a new position in Magnera during the fourth quarter valued at $46,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera in the 4th quarter worth $48,000. KBC Group NV bought a new stake in shares of Magnera in the 4th quarter worth about $51,000. Finally, National Bank of Canada FI bought a new position in shares of Magnera in the 4th quarter valued at about $52,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Vertical Research began coverage on Magnera in a research note on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock. Wells Fargo & Company boosted their target price on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th.

Magnera Trading Down 0.1 %

Shares of NYSE:MAGN opened at $15.08 on Friday. 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 Corp has a 12 month low of $13.11 and a 12 month high of $26.78. The company has a market cap of $533.83 million, a P/E ratio of -0.82 and a beta of 1.76. The firm’s 50-day moving average price is $19.20.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share 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.

Insiders Place Their Bets

In related news, Director Carl J. Rickertsen purchased 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, with a total value of $406,600.00. Following the completion of 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 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 the stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased 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 directly 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 disclosure for this purchase can be found here. Insiders own 2.26% of the company’s stock.

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.