357,067 Shares in Magnera Corp (NYSE:MAGN) Acquired by Geode Capital Management LLC

Geode Capital Management LLC purchased a new position in shares of Magnera Corp (NYSE:MAGN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 357,067 shares of the company's stock, valued at approximately $6,491,000. Geode Capital Management LLC owned about 10.20% of Magnera at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAGN. Ballentine Partners LLC bought a new stake in shares of Magnera in the 4th quarter valued at about $295,000. KBC Group NV acquired a new stake in Magnera in the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Magnera in the fourth quarter worth $101,000. State of Alaska Department of Revenue bought a new position in shares of Magnera during the fourth quarter worth $48,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Magnera in the 4th quarter valued at $26,000. 76.92% of the stock is owned by institutional investors.

Insider Transactions at Magnera

In other Magnera news, CEO Curt Begle purchased 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The stock was acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the acquisition, the chief executive officer now owns 24,066 shares of the company's stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl J. Rickertsen acquired 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $20.33 per share, with a total value of $406,600.00. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. 2.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MAGN has been the topic of several research analyst reports. Wells Fargo & Company raised 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 initiated coverage on Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 price objective on the stock.

Magnera Price Performance

MAGN stock traded up $0.06 during trading hours on Tuesday, reaching $14.71. 521,233 shares of the stock were exchanged, compared to its average volume of 494,804. The firm's 50-day simple moving average is $17.62. Magnera Corp has a 12 month low of $13.07 and a 12 month high of $26.78. The company has a market cap of $520.73 million, a P/E ratio of -0.80 and a beta of 1.76. 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 (NYSE:MAGN - Get Free Report) last posted its quarterly earnings data 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 in the prior year, the company earned ($0.25) EPS.

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.