Alpine Global Management LLC Purchases Shares of 102,724 Magnera Corp (NYSE:MAGN)

Alpine Global Management LLC purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 102,724 shares of the company's stock, valued at approximately $1,866,000. Alpine Global Management LLC owned approximately 2.93% of Magnera at the end of the most recent reporting period.

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

Analysts Set New Price Targets

MAGN has been the subject of a number of recent analyst reports. Wells Fargo & Company upped 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 assumed coverage on shares of Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective for the company.

Insider Buying and Selling

In other Magnera news, Director Carl J. Rickertsen acquired 20,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. The trade was a 1,531.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Curt Begle acquired 23,786 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was acquired at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 2.26% of the stock is owned by insiders.

Magnera Price Performance

Shares of Magnera stock traded down $0.08 during trading on Friday, hitting $14.39. The company's stock had a trading volume of 272,871 shares, compared to its average volume of 497,212. The stock has a market capitalization of $509.41 million, a PE ratio of -0.78 and a beta of 1.76. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera Corp has a 52 week low of $13.07 and a 52 week high of $26.78. The firm's 50-day moving average is $17.78.

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

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.