DG Capital Management LLC Buys Shares of 348,954 Magnera Corp (NYSE:MAGN)

DG Capital Management LLC bought a new stake in Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 348,954 shares of the company's stock, valued at approximately $6,340,000. Magnera makes up approximately 2.1% of DG Capital Management LLC's investment portfolio, making the stock its 10th biggest position. DG Capital Management LLC owned 9.97% of Magnera at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in Magnera during the fourth quarter valued at approximately $52,408,000. Loomis Sayles & Co. L P acquired a new stake in Magnera in the 4th quarter valued at $10,969,000. Geode Capital Management LLC acquired a new stake in Magnera in the 4th quarter valued at $6,491,000. Russell Investments Group Ltd. bought a new stake in Magnera in the fourth quarter valued at $2,702,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Magnera during the fourth quarter worth $1,908,000. Institutional investors and hedge funds own 76.92% of the company's stock.

Insider Transactions at Magnera

In other news, Director Carl J. Rickertsen bought 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. Also, CEO Curt Begle purchased 23,786 shares of the business's stock in a transaction dated 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 purchase, the chief executive officer now directly owns 24,066 shares of the company's stock, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is owned by company insiders.

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Magnera Stock Down 0.1 %

MAGN stock traded down $0.02 during midday trading on Friday, reaching $15.08. 466,229 shares of the company's stock traded hands, compared to its average volume of 506,108. The business has a 50-day moving average of $19.20. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. Magnera Corp has a 1-year low of $13.11 and a 1-year high of $26.78. The stock has a market cap of $533.83 million, a P/E ratio of -0.82 and a beta of 1.76.

Magnera (NYSE:MAGN - Get Free Report) last released its quarterly earnings results 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 period in the prior year, the firm earned ($0.25) earnings per share.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped 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. Vertical Research started coverage on shares of Magnera in a research report on Wednesday, March 19th. They issued a "hold" rating and a $21.00 price target on the 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.