Magnera Corp (NYSE:MAGN) CEO Curt Begle Purchases 23,786 Shares

Magnera Corp (NYSE:MAGN - Get Free Report) CEO Curt Begle acquired 23,786 shares of Magnera stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.08 per share, with a total value of $501,408.88. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Magnera Trading Down 2.0 %

Shares of NYSE:MAGN traded down $0.45 during trading on Friday, reaching $22.54. 496,685 shares of the stock were exchanged, compared to its average volume of 450,316. The company has a quick ratio of 1.04, a current ratio of 2.49 and a debt-to-equity ratio of 1.80. The stock has a market cap of $78.89 million, a PE ratio of -1.23 and a beta of 1.67. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $31.07.

Magnera (NYSE:MAGN - Get Free Report) last issued 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 22.40%. During the same period in the prior year, the firm earned ($0.25) earnings per share.

Institutional Investors Weigh In On Magnera

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in shares of Magnera in the fourth quarter valued at approximately $52,408,000. Khrom Capital Management LLC acquired a new position in Magnera during the fourth quarter valued at approximately $23,777,000. Fuller & Thaler Asset Management Inc. acquired a new position in Magnera during the fourth quarter valued at approximately $23,657,000. LSV Asset Management acquired a new position in Magnera during the fourth quarter valued at approximately $18,382,000. Finally, Dimensional Fund Advisors LP acquired a new position in Magnera during the fourth quarter valued at approximately $16,972,000. 76.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

About Magnera

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.