Walleye Capital LLC Decreases Stock Holdings in Magnera Corporation $MAGN

Walleye Capital LLC lowered its holdings in Magnera Corporation (NYSE:MAGN) by 87.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,646 shares of the company’s stock after selling 215,351 shares during the period. Walleye Capital LLC’s holdings in Magnera were worth $291,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MAGN. Quadrant Capital Group LLC boosted its holdings in shares of Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after buying an additional 1,630 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Magnera by 106.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock worth $30,000 after acquiring an additional 1,021 shares during the period. Quarry LP purchased a new position in Magnera in the fourth quarter valued at about $30,000. BNP Paribas Financial Markets grew its position in shares of Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after acquiring an additional 1,492 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Magnera by 13,014.3% during the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after purchasing an additional 3,644 shares during the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

Magnera Stock Performance

Shares of MAGN stock opened at $13.66 on Friday. The firm’s 50 day moving average is $12.11 and its 200 day moving average is $12.02. The stock has a market capitalization of $489.17 million, a P/E ratio of -6.97 and a beta of 1.77. Magnera Corporation has a 12 month low of $7.82 and a 12 month high of $15.52. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%. The business had revenue of $796.00 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Wall Street Zen raised Magnera from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company increased their price target on Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $16.00.

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.