Magnera Corp (NYSE:MAGN) Stock Position Lifted by Catalyst Funds Management Pty Ltd

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB purchased a new stake in Magnera during the fourth quarter worth approximately $26,000. Vestcor Inc acquired a new position in shares of Magnera during the 4th quarter valued at $46,000. State of Alaska Department of Revenue purchased a new stake in Magnera during the 4th quarter worth $48,000. KBC Group NV acquired a new stake in Magnera in the 4th quarter valued at $51,000. Finally, Rhumbline Advisers purchased a new position in Magnera in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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 report on Friday, February 7th.

Magnera Trading Up 1.0 %

NYSE:MAGN traded up $0.19 during trading hours on Monday, hitting $19.36. The stock had a trading volume of 291,379 shares, compared to its average volume of 504,572. The company has a market capitalization of $685.34 million, a P/E ratio of -1.06 and a beta of 1.66. The firm has a 50 day simple moving average of $19.85. Magnera Corp has a 1-year low of $15.80 and a 1-year high of $26.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45.

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

Insider Buying and Selling at Magnera

In other Magnera news, Director Carl J. Rickertsen bought 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now directly owns 21,306 shares in the company, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Curt Begle purchased 23,786 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were bought at an average cost of $21.08 per share, with a total value of $501,408.88. Following the transaction, the chief executive officer now directly owns 24,066 shares of the company's stock, valued at approximately $507,311.28. This represents a 8,495.00 % 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 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.