Magnera Corp (NYSE:MAGN) Shares Purchased by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd grew its position in shares of Magnera Corp (NYSE:MAGN - Free Report) by 233.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,669 shares of the company's stock after purchasing an additional 26,369 shares during the quarter. Catalyst Funds Management Pty Ltd owned approximately 1.08% of Magnera worth $684,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAGN shares. Wells Fargo & Company upped their target price on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Vertical Research started coverage on shares of Magnera in a research report on Wednesday. They set a "hold" rating and a $21.00 price objective for the company.

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Magnera Price Performance

Magnera stock traded down $0.15 during midday trading on Thursday, reaching $19.04. The company had a trading volume of 270,195 shares, compared to its average volume of 491,304. Magnera Corp has a 12-month low of $15.80 and a 12-month high of $26.78. The business has a fifty day moving average of $19.82. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $674.02 million, a P/E ratio of -1.04 and a beta of 1.66.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings results 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 last year, the business earned ($0.25) earnings per share.

Insider Transactions at Magnera

In other news, CEO Curt Begle acquired 23,786 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $21.08 per share, for a total transaction 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 trade represents a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl J. Rickertsen bought 20,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.26% of the company's stock.

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.