Magnera (NYSE:MAGN) Earns Hold Rating from Analysts at Vertical Research

Vertical Research began coverage on shares of Magnera (NYSE:MAGN) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued a hold rating and a $21.00 target price on the stock.

Separately, Wells Fargo & Company raised their price target on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Magnera Trading Down 0.6 %

MAGN stock opened at $19.19 on Wednesday. The company has a 50 day moving average price of $19.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The company has a market capitalization of $679.33 million, a price-to-earnings ratio of -1.05 and a beta of 1.66. Magnera has a 12 month low of $15.80 and a 12 month high of $26.78.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) 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 in the previous year, the business earned ($0.25) EPS.

Insider Transactions at Magnera

In other news, Director Carl J. Rickertsen bought 20,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired 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 directly owns 21,306 shares in the company, valued at $433,150.98. This represents a 1,531.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Magnera

A number of institutional investors have recently made changes to their positions in the business. Madison Avenue Partners LP bought a new stake in Magnera in the fourth quarter worth $61,892,000. Vanguard Group Inc. purchased a new position in shares of Magnera in the fourth quarter worth about $52,408,000. Engine Capital Management LP bought a new stake in shares of Magnera in the 4th quarter valued at about $42,851,000. Ancora Advisors LLC purchased a new stake in Magnera during the 4th quarter valued at about $30,047,000. Finally, Littlejohn & Co. LLC purchased a new stake in Magnera during the 4th quarter valued at about $25,591,000. Hedge funds and other institutional investors own 76.92% 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.