Catalyst Funds Management Pty Ltd Boosts Position in Magnera Corp (NYSE:MAGN)

Catalyst Funds Management Pty Ltd increased its stake in Magnera Corp (NYSE:MAGN - Free Report) by 233.4% in the 4th quarter, according to the company in its most recent disclosure with the 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 about 1.08% of Magnera worth $684,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MAGN. Swiss National Bank bought a new stake in Magnera in the 4th quarter worth approximately $1,267,000. Charles Schwab Investment Management Inc. purchased a new stake in Magnera during the fourth quarter valued at about $1,180,000. Carlson Capital L.P. bought a new position in shares of Magnera during the fourth quarter valued at about $954,000. Oppenheimer Asset Management Inc. bought a new position in shares of Magnera in the fourth quarter worth approximately $427,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Magnera in the fourth quarter worth $376,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Magnera Price Performance

MAGN stock traded down $0.05 during trading on Tuesday, reaching $19.30. The company had a trading volume of 98,194 shares, compared to its average volume of 496,546. 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 $15.80 and a 52 week high of $26.78. The business's 50 day moving average price is $19.85. The stock has a market cap of $683.22 million, a P/E ratio of -1.05 and a beta of 1.66.

Remove Ads

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $20.33 per share, with a total value of $406,600.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Curt Begle bought 23,786 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the purchase, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their position. The disclosure for this purchase can be found here. Company 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.