Magnera (NYSE:MAGN) Coverage Initiated by Analysts at Vertical Research

Vertical Research began coverage on shares of Magnera (NYSE:MAGN) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued a hold rating and a $21.00 price target on the stock.

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

Magnera Trading Down 0.6 %

NYSE MAGN opened at $19.19 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The stock has a market cap of $679.33 million, a price-to-earnings ratio of -1.05 and a beta of 1.66. The company has a fifty day moving average of $19.82. Magnera has a 12 month low of $15.80 and a 12 month high of $26.78.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share 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 business earned ($0.25) EPS.

Insider Activity

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

Institutional Investors Weigh In On Magnera

Several large investors have recently added to or reduced their stakes in MAGN. Wilmington Savings Fund Society FSB purchased a new stake in Magnera during the fourth quarter valued at about $26,000. Shell Asset Management Co. bought a new stake in shares of Magnera in the fourth quarter valued at approximately $41,000. Vestcor Inc purchased a new stake in shares of Magnera during the 4th quarter valued at approximately $46,000. State of Alaska Department of Revenue bought a new position in Magnera in the 4th quarter worth approximately $48,000. Finally, KBC Group NV purchased a new position in Magnera in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

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.