Curt Begle Purchases 23,786 Shares of Magnera Corp (NYSE:MAGN) Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle bought 23,786 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, with a total value of $501,408.88. Following the transaction, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at $507,311.28. This represents a 8,495.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Magnera Trading Up 0.4 %

NYSE:MAGN opened at $22.90 on Friday. The stock has a market capitalization of $80.15 million, a P/E ratio of -1.25 and a beta of 1.67. Magnera Corp has a 12 month low of $15.80 and a 12 month high of $31.07. 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 released its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) 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 business posted ($0.25) EPS.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Magnera

Several large investors have recently added to or reduced their stakes in MAGN. Marshall Wace LLP lifted its holdings in Magnera by 3.0% during the fourth quarter. Marshall Wace LLP now owns 107,230 shares of the company’s stock worth $1,948,000 after buying an additional 3,161 shares during the period. Jump Financial LLC acquired a new position in shares of Magnera in the 4th quarter valued at $465,000. Barclays PLC purchased a new position in shares of Magnera in the fourth quarter worth about $135,000. Brightline Capital Management LLC acquired a new position in Magnera during the fourth quarter valued at $2,780,000. Finally, LSV Asset Management purchased a new stake in shares of Magnera in the fourth quarter worth about $18,382,000. 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.