Magnera Corp (NYSE:MAGN) CEO Acquires $501,408.88 in Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle purchased 23,786 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $21.08 per share, with a total value of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares of the company’s stock, valued at $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Magnera Stock Down 2.0 %

Shares of MAGN stock opened at $22.54 on Friday. Magnera Corp has a 52-week low of $15.80 and a 52-week high of $31.07. The company has a market capitalization of $78.87 million, a price-to-earnings ratio of -1.23 and a beta of 1.67. The company has a current ratio of 2.49, a quick ratio of 1.04 and a debt-to-equity ratio of 1.80.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 22.40%. During the same quarter in the prior year, the firm earned ($0.25) earnings per share.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price target on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Hedge Funds Weigh In On Magnera

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Magnera during the fourth quarter worth $26,000. Vestcor Inc bought a new position in shares of Magnera during the fourth quarter worth $46,000. State of Alaska Department of Revenue bought a new position in shares of Magnera during the fourth quarter worth $48,000. KBC Group NV bought a new position in shares of Magnera during the fourth quarter worth $51,000. Finally, National Bank of Canada FI bought a new position in shares of Magnera during the fourth quarter worth $52,000. 76.92% of the stock is owned by institutional investors.

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.