Magnera (NYSE:MAGN) Hits New 1-Year Low - Should You Sell?

Shares of Magnera Corp (NYSE:MAGN - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $15.65 and last traded at $15.91, with a volume of 26644 shares. The stock had previously closed at $17.07.

Analysts Set New Price Targets

Several brokerages recently commented on MAGN. 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 objective for the company. Wells Fargo & Company lifted their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th.

Magnera Trading Up 20.0 %

The firm has a market capitalization of $573.48 million, a P/E ratio of -0.88 and a beta of 1.76. The stock has a 50-day moving average of $19.45. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80.

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

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Insider Transactions at Magnera

In related news, CEO Curt Begle bought 23,786 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carl J. Rickertsen bought 20,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $20.33 per share, with a total value of $406,600.00. Following the purchase, the director now directly owns 21,306 shares of the company's stock, valued at approximately $433,150.98. This represents a 1,531.39 % 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.

Institutional Investors Weigh In On Magnera

Several institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera in the fourth quarter valued at approximately $26,000. Shell Asset Management Co. acquired a new stake in Magnera during the 4th quarter worth $41,000. Vestcor Inc acquired a new stake in Magnera during the 4th quarter worth $46,000. State of Alaska Department of Revenue purchased a new stake in shares of Magnera during the fourth quarter worth $48,000. Finally, KBC Group NV acquired a new stake in shares of Magnera in the fourth quarter valued at about $51,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

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.