Magnera (NYSE:MAGN) Earns Hold Rating from Analysts at Vertical Research

Analysts at Vertical Research initiated coverage on shares of Magnera (NYSE:MAGN) in a note issued to investors on Wednesday. The brokerage set a “hold” rating and a $21.00 price target on the stock. Vertical Research’s target price would indicate a potential upside of 8.75% from the company’s current price.

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

Magnera Trading Down 0.2 %

NYSE:MAGN opened at $19.31 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera has a 12 month low of $15.80 and a 12 month high of $26.78. The company has a market cap of $683.57 million, a P/E ratio of -1.05 and a beta of 1.66. The stock has a 50 day moving average of $19.84.

Magnera (NYSE:MAGN) last issued 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 10.62%. During the same quarter in the prior year, the company posted ($0.25) EPS.

Insider Buying and Selling

In related news, CEO Curt Begle purchased 23,786 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the purchase, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl J. Rickertsen purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now owns 21,306 shares in the company, valued at approximately $433,150.98. This represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by insiders.

Institutional Trading of Magnera

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Magnera in the 4th quarter worth $26,000. Shell Asset Management Co. purchased a new stake in Magnera in the 4th quarter worth $41,000. Vestcor Inc purchased a new stake in Magnera in the 4th quarter worth $46,000. State of Alaska Department of Revenue purchased a new stake in Magnera in the 4th quarter worth $48,000. Finally, KBC Group NV purchased a new stake in Magnera in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

About Magnera

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.