Black Diamond Capital Management L.L.C. Purchases New Position in Magnera Corp (NYSE:MAGN)

Black Diamond Capital Management L.L.C. acquired a new stake in Magnera Corp (NYSE:MAGN) during the 4th quarter, Holdings Channel.com reports. The fund acquired 490,871 shares of the company’s stock, valued at approximately $8,919,000. Magnera comprises approximately 4.8% of Black Diamond Capital Management L.L.C.’s holdings, making the stock its 9th largest position. Black Diamond Capital Management L.L.C. owned approximately 0.14% of Magnera as of its most recent SEC filing.

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

Magnera Trading Up 1.9 %

Shares of NYSE:MAGN opened at $14.65 on Tuesday. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. Magnera Corp has a 12 month low of $13.07 and a 12 month high of $26.78. The firm has a 50-day simple moving average of $17.62. The company has a market cap of $518.61 million, a P/E ratio of -0.80 and a beta of 1.76.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same quarter in the previous year, the business earned ($0.25) earnings per share.

Insider Transactions at Magnera

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MAGN shares. Wells Fargo & Company increased 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. Vertical Research started coverage on Magnera in a research note on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target for the company.

Magnera 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.