Carl J. Rickertsen Purchases 20,000 Shares of Magnera Corp (NYSE:MAGN) Stock

Magnera Corp (NYSE:MAGN) Director Carl J. Rickertsen bought 20,000 shares of Magnera stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now owns 21,306 shares of the company’s stock, valued at $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Magnera Stock Performance

Shares of Magnera stock opened at $20.61 on Friday. Magnera Corp has a 52-week low of $15.80 and a 52-week high of $29.77. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $729.59 million, a PE ratio of -1.12 and a beta of 1.67.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period in the previous year, the firm posted ($0.25) earnings per share.

Hedge Funds Weigh In On Magnera

Institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Magnera during the 4th quarter valued at $350,000. Jefferies Financial Group Inc. purchased a new stake in shares of Magnera during the fourth quarter valued at approximately $614,000. Toronto Dominion Bank purchased a new stake in Magnera during the 4th quarter valued at $358,000. Alpine Global Management LLC bought a new stake in Magnera in the 4th quarter worth about $1,866,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Magnera in the fourth quarter worth approximately $1,040,000. 76.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price target 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 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.