Trexquant Investment LP Purchases Shares of 26,210 Magnera Corp (NYSE:MAGN)

Trexquant Investment LP purchased a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,210 shares of the company's stock, valued at approximately $476,000. Trexquant Investment LP owned 0.75% of Magnera as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Magnera during the fourth quarter worth approximately $26,000. Vestcor Inc acquired a new position in shares of Magnera during the 4th quarter worth about $46,000. State of Alaska Department of Revenue purchased a new position in Magnera in the 4th quarter valued at about $48,000. KBC Group NV acquired a new stake in Magnera in the 4th quarter worth about $51,000. Finally, National Bank of Canada FI acquired a new stake in Magnera in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MAGN. Wells Fargo & Company raised 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. Vertical Research started coverage on Magnera in a report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price objective on the stock.

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Magnera Trading Down 0.7 %

MAGN stock traded down $0.11 during mid-day trading on Tuesday, reaching $15.15. The company's stock had a trading volume of 176,199 shares, compared to its average volume of 497,641. 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's 50 day moving average price is $19.02. Magnera Corp has a fifty-two week low of $13.11 and a fifty-two week high of $26.78. The stock has a market cap of $536.31 million, a PE ratio of -0.83 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last posted 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 period last year, the firm posted ($0.25) earnings per share.

Insiders Place Their Bets

In other Magnera news, Director Carl J. Rickertsen acquired 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Curt Begle bought 23,786 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were acquired at an average cost of $21.08 per share, with a total value of $501,408.88. Following the purchase, the chief executive officer now owns 24,066 shares of the company's stock, valued at $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. Corporate insiders own 2.26% of the company's stock.

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.