Magnera (NYSE:MAGN) Shares Up 0.3% – Here’s What Happened

Magnera Corporation (NYSE:MAGN) was up 0.3% on Thursday . The stock traded as high as $15.19 and last traded at $15.0710. Approximately 304,286 shares changed hands during trading, a decline of 33% from the average daily volume of 456,899 shares. The stock had previously closed at $15.02.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MAGN shares. Wells Fargo & Company lifted their price objective on Magnera from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Vertical Research lowered Magnera from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Magnera in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Magnera from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Magnera Price Performance

The company has a 50-day moving average of $13.44 and a 200-day moving average of $12.27. The stock has a market capitalization of $504.95 million, a price-to-earnings ratio of -1.84 and a beta of 1.70. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.58 and a current ratio of 2.37.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MAGN. BNP Paribas Financial Markets boosted its stake in shares of Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after purchasing an additional 1,492 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Magnera in the second quarter valued at approximately $41,000. FNY Investment Advisers LLC lifted its stake in shares of Magnera by 88.0% during the second quarter. FNY Investment Advisers LLC now owns 4,400 shares of the company’s stock valued at $53,000 after buying an additional 2,060 shares during the period. GAMMA Investing LLC lifted its stake in shares of Magnera by 13,014.3% during the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock valued at $56,000 after buying an additional 3,644 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Magnera during the second quarter worth approximately $92,000. 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.