Magnera (NYSE:MAGN – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.56) EPS for the quarter, Zacks reports. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.
Magnera Trading Down 0.8%
Magnera stock traded down $0.11 during trading on Wednesday, hitting $13.58. The company’s stock had a trading volume of 319,950 shares, compared to its average volume of 399,504. The stock has a market capitalization of $486.02 million, a price-to-earnings ratio of -6.93 and a beta of 1.74. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. The stock’s fifty day moving average is $12.60 and its 200 day moving average is $11.94. Magnera has a 1-year low of $7.82 and a 1-year high of $15.52.
Analyst Upgrades and Downgrades
MAGN has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Finally, Wall Street Zen raised Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $16.00.
Institutional Trading of Magnera
A number of hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after buying an additional 1,630 shares during the last quarter. Quarry LP acquired a new position in Magnera in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in Magnera by 106.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock worth $30,000 after purchasing an additional 1,021 shares during the period. BNP Paribas Financial Markets increased its stake in Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Magnera in the 3rd quarter worth about $99,000. Institutional investors and hedge funds own 76.92% of the company’s 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.
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