54,749 Shares in Magnera Corp (NYSE:MAGN) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new position in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 54,749 shares of the company's stock, valued at approximately $995,000. Arrowstreet Capital Limited Partnership owned about 1.56% of Magnera at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Magnera in the 4th quarter worth $26,000. Vestcor Inc purchased a new stake in Magnera in the fourth quarter valued at about $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera in the fourth quarter worth about $48,000. KBC Group NV purchased a new stake in shares of Magnera during the fourth quarter worth about $51,000. Finally, Rhumbline Advisers acquired a new position in shares of Magnera during the fourth quarter valued at about $55,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAGN has been the subject of a number of recent analyst reports. Vertical Research assumed coverage on shares of Magnera in a research note on Wednesday, March 19th. They issued a "hold" rating and a $21.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th.

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Insider Buying and Selling

In other news, CEO Curt Begle bought 23,786 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was purchased at an average cost of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased 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 $433,150.98. This represents a 1,531.39 % increase in their position. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

Magnera Trading Down 0.7 %

Shares of MAGN stock traded down $0.11 during mid-day trading on Tuesday, reaching $15.15. The stock had a trading volume of 176,199 shares, compared to its average volume of 497,641. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. Magnera Corp has a 1-year low of $13.11 and a 1-year high of $26.78. The company has a market cap of $536.31 million, a price-to-earnings ratio of -0.83 and a beta of 1.76. The business has a fifty day moving average of $19.12.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same quarter last year, the company posted ($0.25) earnings per share.

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.