Rangeley Capital LLC Makes New Investment in Magnera Corp (NYSE:MAGN)

Rangeley Capital LLC bought a new stake in Magnera Corp (NYSE:MAGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,500 shares of the company's stock, valued at approximately $282,000. Rangeley Capital LLC owned about 0.44% of Magnera as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in MAGN. Wilmington Savings Fund Society FSB acquired a new position in Magnera in the 4th quarter valued at about $26,000. Vestcor Inc purchased a new stake in Magnera during the fourth quarter valued at about $46,000. State of Alaska Department of Revenue acquired a new stake in Magnera during the fourth quarter worth about $48,000. KBC Group NV purchased a new position in shares of Magnera in the 4th quarter worth about $51,000. Finally, National Bank of Canada FI purchased a new position in shares of Magnera in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 76.92% of the company's stock.

Insider Transactions at Magnera

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

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Magnera Price Performance

NYSE MAGN traded down $0.38 during trading hours on Tuesday, hitting $14.25. The company had a trading volume of 294,819 shares, compared to its average volume of 491,410. The business's 50 day moving average is $19.66. The stock has a market cap of $504.45 million, a P/E ratio of -0.78 and a beta of 1.76. Magnera Corp has a fifty-two week low of $13.70 and a fifty-two week high of $26.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52.

Magnera (NYSE:MAGN - Get Free Report) last posted its 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 10.62%. During the same period last year, the business posted ($0.25) earnings per share.

Wall Street Analyst Weigh In

MAGN has been the subject of a number of research reports. Vertical Research assumed coverage on Magnera in a report on Wednesday, March 19th. They set a "hold" rating and a $21.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Magnera from $22.00 to $24.00 and gave the company an "overweight" rating in a research 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.