Curt Begle Buys 20,275 Shares of Magnera Corp (NYSE:MAGN) Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle purchased 20,275 shares of Magnera stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $14.01 per share, with a total value of $284,052.75. Following the acquisition, the chief executive officer now owns 44,341 shares in the company, valued at approximately $621,217.41. This represents a 84.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Curt Begle also recently made the following trade(s):

• On Tuesday, February 11th, Curt Begle acquired 23,786 shares of Magnera stock. The stock was acquired at an average cost of $21.08 per share, with a total value of $501,408.88.

Magnera Price Performance

Magnera stock opened at $14.19 on Friday. Magnera Corp has a 1-year low of $12.20 and a 1-year high of $26.78. The stock has a fifty day simple moving average of $16.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The firm has a market cap of $502.33 million, a PE ratio of -0.77 and a beta of 1.76.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.35). The business had revenue of $824.00 million for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

MAGN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Vertical Research began coverage on shares of Magnera in a report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target on the stock.

Magnera Company 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.