Magnera (NYSE:MAGN) Sets New 1-Year Low - Time to Sell?

Magnera Corp (NYSE:MAGN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.11 and last traded at $16.20, with a volume of 932666 shares. The stock had previously closed at $13.50.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Vertical Research began coverage on Magnera in a research report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price on the stock. Wells Fargo & Company boosted their price target on Magnera from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th.

Magnera Price Performance

The stock has a market cap of $535.25 million, a PE ratio of -0.82 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. The stock has a 50-day moving average of $19.12.

Magnera (NYSE:MAGN - Get Free Report) last announced 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 period in the previous year, the company posted ($0.25) earnings per share.

Remove Ads

Insider Buying and Selling

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

Several hedge funds and other institutional investors have recently modified their holdings of MAGN. Rhumbline Advisers acquired a new position in Magnera during the 4th quarter valued at approximately $55,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Magnera during the fourth quarter valued at $101,000. Swiss National Bank bought a new position in shares of Magnera during the fourth quarter worth about $1,267,000. Ballentine Partners LLC acquired a new stake in shares of Magnera in the 4th quarter worth about $295,000. Finally, Bank of New York Mellon Corp bought a new stake in Magnera in the 4th quarter valued at about $376,000. Institutional investors own 76.92% of the company's stock.

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.