557,810 Shares in Magnera Corporation $MAGN Bought by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in shares of Magnera Corporation (NYSE:MAGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 557,810 shares of the company’s stock, valued at approximately $8,445,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Readystate Asset Management LP grew its holdings in shares of Magnera by 60.9% during the 3rd quarter. Readystate Asset Management LP now owns 210,350 shares of the company’s stock worth $2,465,000 after purchasing an additional 79,629 shares during the period. Assenagon Asset Management S.A. raised its holdings in Magnera by 118.1% in the third quarter. Assenagon Asset Management S.A. now owns 753,906 shares of the company’s stock valued at $8,836,000 after buying an additional 408,181 shares during the period. Clearline Capital LP acquired a new position in Magnera during the third quarter valued at approximately $2,079,000. Alpine Global Management LLC grew its stake in Magnera by 129.5% during the third quarter. Alpine Global Management LLC now owns 229,456 shares of the company’s stock worth $2,689,000 after buying an additional 129,456 shares during the period. Finally, JB Capital Partners LP purchased a new stake in Magnera during the third quarter worth approximately $1,992,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Trading Up 0.7%

NYSE MAGN opened at $8.96 on Tuesday. The company’s fifty day simple moving average is $12.46 and its 200-day simple moving average is $12.17. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $18.61. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The stock has a market cap of $321.48 million, a P/E ratio of -3.43 and a beta of 1.69.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.34) earnings per share for the quarter. Magnera had a negative net margin of 4.04% and a negative return on equity of 12.30%. The firm had revenue of $792.00 million for the quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Wells Fargo & Company downgraded Magnera from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $19.00 to $12.00 in a report on Friday, March 20th. Vertical Research lowered Magnera from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Magnera in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $14.00.

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.