Boothbay Fund Management LLC Takes Position in Magnera Corp (NYSE:MAGN)

Boothbay Fund Management LLC bought a new stake in Magnera Corp (NYSE:MAGN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 62,961 shares of the company’s stock, valued at approximately $1,144,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Magnera during the fourth quarter valued at approximately $52,408,000. Khrom Capital Management LLC bought a new stake in Magnera during the 4th quarter valued at $23,777,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Magnera during the 4th quarter valued at $23,657,000. LSV Asset Management bought a new stake in Magnera in the 4th quarter worth $18,382,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Magnera in the fourth quarter valued at about $16,972,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Magnera

In other Magnera news, CEO Curt Begle bought 23,786 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl J. Rickertsen bought 20,000 shares of the 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 completion of the acquisition, the director now directly owns 21,306 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Vertical Research assumed coverage on Magnera in a report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price objective for the company.

Magnera Trading Up 1.9 %

Shares of Magnera stock opened at $14.65 on Tuesday. The firm’s fifty day moving average is $17.62. Magnera Corp has a 12-month low of $13.07 and a 12-month high of $26.78. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The stock 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 released its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) 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 prior year, the company earned ($0.25) earnings per share.

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.