148,711 Shares in Magnera Corp (NYSE:MAGN) Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. acquired a new stake in Magnera Corp (NYSE:MAGN) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 148,711 shares of the company’s stock, valued at approximately $2,702,000.

Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new position in shares of Magnera during the fourth quarter worth approximately $154,000. ExodusPoint Capital Management LP bought a new position in Magnera in the 4th quarter valued at $201,000. Rangeley Capital LLC bought a new stake in shares of Magnera during the fourth quarter worth $282,000. Trexquant Investment LP acquired a new stake in Magnera in the fourth quarter worth about $476,000. Finally, Geode Capital Management LLC acquired a new position in Magnera during the 4th quarter valued at about $6,491,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Carl J. Rickertsen purchased 20,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were 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 in the company, valued at $433,150.98. This represents a 1,531.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction dated 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 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. 2.26% of the stock is owned by company insiders.

Magnera Trading Down 3.4 %

Shares of MAGN opened at $14.56 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The company has a market capitalization of $515.42 million, a PE ratio of -0.79 and a beta of 1.76. The stock’s 50-day moving average is $18.79. Magnera Corp has a 1 year low of $13.11 and a 1 year high of $26.78.

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.

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.