53,992 Shares in Magnera Corp (NYSE:MAGN) Acquired by RBF Capital LLC

RBF Capital LLC bought a new stake in shares of Magnera Corp (NYSE:MAGN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 53,992 shares of the company's stock, valued at approximately $981,000. RBF Capital LLC owned about 1.54% of Magnera at the end of the most recent quarter.

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

Insider Activity at Magnera

In related news, Director Carl J. Rickertsen bought 20,000 shares of Magnera stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the acquisition, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Curt Begle acquired 23,786 shares of the stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $21.08 per share, with a total value of $501,408.88. Following the completion of the transaction, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Vertical Research started coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 7th.

Magnera Stock Performance

Shares of NYSE:MAGN opened at $13.60 on Wednesday. The firm has a 50 day moving average price of $18.28. 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 $481.44 million, a P/E ratio of -0.74 and a beta of 1.76. Magnera Corp has a 52 week low of $13.07 and a 52 week high of $26.78.

Magnera (NYSE:MAGN - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share 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 prior year, the company posted ($0.25) earnings per share.

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.

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