XTX Topco Ltd Acquires Shares of 13,583 Magnera Corporation (NYSE:MAGN)

XTX Topco Ltd purchased a new position in Magnera Corporation (NYSE:MAGN) during the first quarter, HoldingsChannel.com reports. The fund purchased 13,583 shares of the company’s stock, valued at approximately $247,000.

A number of other large investors also recently modified their holdings of MAGN. JPMorgan Chase & Co. bought a new position in shares of Magnera in the 4th quarter worth about $1,629,000. Geode Capital Management LLC acquired a new stake in shares of Magnera in the 4th quarter worth about $6,491,000. ExodusPoint Capital Management LP acquired a new stake in shares of Magnera in the 4th quarter worth about $201,000. Wells Fargo & Company MN acquired a new stake in shares of Magnera in the 4th quarter worth about $154,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Magnera in the 4th quarter worth about $2,702,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Stock Up 1.4%

Magnera stock opened at $12.89 on Tuesday. The stock has a market cap of $458.88 million, a price-to-earnings ratio of -1.69 and a beta of 1.67. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average price is $12.93 and its two-hundred day moving average price is $15.58. Magnera Corporation has a 52 week low of $10.39 and a 52 week high of $26.78.

Magnera (NYSE:MAGN) last released its earnings results on Wednesday, August 6th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.54). Magnera had a negative net margin of 4.98% and a negative return on equity of 9.57%. The company had revenue of $839.00 million for the quarter. The business’s revenue was up 50.9% on a year-over-year basis.

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $273,000.00. Following the acquisition, the director directly owned 41,306 shares of the company’s stock, valued at $563,826.90. This trade represents a 93.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Tom Salmon bought 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average price of $11.94 per share, for a total transaction of $202,980.00. Following the completion of the acquisition, the director directly owned 35,289 shares in the company, valued at approximately $421,350.66. This represents a 92.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 53,940 shares of company stock worth $676,041 in the last ninety days. 2.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MAGN shares. Wall Street Zen cut shares of Magnera from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company dropped their price objective on shares of Magnera from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, July 18th.

Magnera 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.