CenterBook Partners LP Purchases Shares of 91,942 Magnera Corp (NYSE:MAGN)

CenterBook Partners LP purchased a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 91,942 shares of the company's stock, valued at approximately $1,671,000. CenterBook Partners LP owned 2.63% of Magnera at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Magnera during the 4th quarter valued at about $26,000. Vestcor Inc bought a new stake in Magnera in the fourth quarter valued at $46,000. State of Alaska Department of Revenue bought a new position in Magnera during the 4th quarter valued at about $48,000. KBC Group NV bought a new position in shares of Magnera in the fourth quarter valued at about $51,000. Finally, National Bank of Canada FI bought a new stake in Magnera during the 4th quarter worth about $52,000. 76.92% of the stock is currently owned by institutional investors.

Insider Transactions at Magnera

In related news, Director Carl J. Rickertsen acquired 20,000 shares of the firm's stock in a transaction on 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 acquisition, the director now owns 21,306 shares of the company's stock, valued at approximately $433,150.98. This trade represents a 1,531.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Curt Begle acquired 23,786 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the acquisition, the chief executive officer now directly owns 24,066 shares in the company, valued at approximately $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on MAGN. Wells Fargo & Company lifted their price objective 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 assumed coverage on Magnera in a research note on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective on the stock.

Magnera Trading Down 0.1 %

MAGN stock traded down $0.01 during mid-day trading on Wednesday, hitting $15.15. The stock had a trading volume of 31,707 shares, compared to its average volume of 491,136. The stock's fifty day moving average is $19.02. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. Magnera Corp has a 52 week low of $13.11 and a 52 week high of $26.78. The stock has a market capitalization of $536.31 million, a price-to-earnings ratio of -0.83 and a beta of 1.76.

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 net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the prior year, the business posted ($0.25) earnings per share.

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.