Magnera (NYSE:MAGN) Now Covered by Analysts at Vertical Research

Stock analysts at Vertical Research started coverage on shares of Magnera (NYSE:MAGN - Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a "hold" rating and a $21.00 price target on the stock. Vertical Research's price objective suggests a potential upside of 12.60% from the stock's previous close.

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

Magnera Stock Down 2.0 %

NYSE:MAGN traded down $0.39 during mid-day trading on Wednesday, hitting $18.65. 493,971 shares of the stock traded hands, compared to its average volume of 491,353. The firm's 50-day moving average is $19.78. The company has a market cap of $660.21 million, a P/E ratio of -1.02 and a beta of 1.66. Magnera has a 12-month low of $15.80 and a 12-month 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.

Magnera (NYSE:MAGN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) 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 previous year, the firm posted ($0.25) EPS.

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Insiders Place Their Bets

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

Institutional Investors Weigh In On Magnera

A number of hedge funds have recently made changes to their positions in the business. Madison Avenue Partners LP bought a new position in Magnera in the 4th quarter worth $61,892,000. Vanguard Group Inc. bought a new position in Magnera in the 4th quarter worth $52,408,000. Engine Capital Management LP bought a new position in Magnera in the 4th quarter worth $42,851,000. Ancora Advisors LLC purchased a new stake in shares of Magnera in the 4th quarter worth about $30,047,000. Finally, Littlejohn & Co. LLC purchased a new position in Magnera during the 4th quarter valued at about $25,591,000. 76.92% of the stock is currently owned by institutional investors.

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.