Carl J. Rickertsen Acquires 20,000 Shares of Magnera Corp (NYSE:MAGN) Stock

Magnera Corp (NYSE:MAGN - Get Free Report) Director Carl J. Rickertsen bought 20,000 shares of the firm's 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 in the company, valued at $433,150.98. The trade was a 1,531.39 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Magnera Trading Down 1.2 %

Shares of NYSE:MAGN traded down $0.23 during trading on Tuesday, reaching $19.49. 537,122 shares of the stock were exchanged, compared to its average volume of 524,449. The stock has a market cap of $689.95 million, a PE ratio of -1.06 and a beta of 1.67. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $29.77.

Magnera (NYSE:MAGN - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the firm posted ($0.25) EPS.

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Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on shares of Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 7th.

Hedge Funds Weigh In On Magnera

Hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Magnera during the 4th quarter worth approximately $26,000. Shell Asset Management Co. bought a new stake in shares of Magnera in the fourth quarter valued at approximately $41,000. 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 Magnera during the 4th quarter worth $48,000. Finally, KBC Group NV bought a new position in Magnera during the 4th quarter worth $51,000. 76.92% of the stock is owned by institutional investors.

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.