7,414 Shares in Magnera Corp (NYSE:MAGN) Purchased by Barclays PLC

Barclays PLC purchased a new stake in Magnera Corp (NYSE:MAGN) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 7,414 shares of the company’s stock, valued at approximately $135,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera in the 4th quarter valued at approximately $26,000. Vestcor Inc acquired a new position in Magnera during the 4th quarter worth $46,000. State of Alaska Department of Revenue acquired a new position in Magnera during the 4th quarter worth $48,000. KBC Group NV acquired a new position in Magnera during the 4th quarter worth $51,000. Finally, National Bank of Canada FI acquired a new position in shares of Magnera in the 4th quarter valued at $52,000. 76.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Magnera news, CEO Curt Begle purchased 20,275 shares of Magnera stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the completion of the acquisition, the chief executive officer now owns 44,341 shares of the company’s stock, valued at approximately $621,217.41. This trade represents a 84.25% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Michael Fogarty purchased 20,000 shares of Magnera stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $15.15 per share, with a total value of $303,000.00. Following the acquisition, the director now directly owns 31,538 shares of the company’s stock, valued at $477,800.70. This trade represents a 173.34% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 60,275 shares of company stock worth $993,653. Company insiders own 2.26% of the company’s stock.

Magnera Stock Up 2.1%

Shares of MAGN stock opened at $15.06 on Wednesday. The company has a market capitalization of $536.14 million, a price-to-earnings ratio of -0.82 and a beta of 1.76. The stock has a fifty day simple moving average of $16.31. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera Corp has a 12 month low of $12.20 and a 12 month high of $26.78.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.35). The company had revenue of $824.00 million during the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MAGN shares. Vertical Research assumed coverage on Magnera in a research note on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target on the stock. Wells Fargo & Company upped their price objective 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.

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.