Magnera (NYSE:MAGN) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of Magnera (NYSE:MAGN) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $16.00.

Magnera Price Performance

Shares of MAGN opened at $12.36 on Friday. The company has a market capitalization of $442.52 million, a price-to-earnings ratio of -6.15 and a beta of 1.69. Magnera has a fifty-two week low of $7.82 and a fifty-two week high of $15.52. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.45 and a quick ratio of 1.57. The business’s 50-day moving average is $11.76 and its 200-day moving average is $11.91.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $857.00 million during the quarter. Magnera had a negative return on equity of 10.77% and a negative net margin of 3.41%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MAGN. Newtyn Management LLC lifted its holdings in shares of Magnera by 1.4% during the 2nd quarter. Newtyn Management LLC now owns 2,800,000 shares of the company’s stock valued at $32,900,000 after buying an additional 40,000 shares during the last quarter. Private Management Group Inc. raised its position in Magnera by 216.1% during the third quarter. Private Management Group Inc. now owns 590,211 shares of the company’s stock valued at $6,693,000 after acquiring an additional 403,483 shares in the last quarter. Seven Six Capital Management LLC raised its position in Magnera by 33.2% during the first quarter. Seven Six Capital Management LLC now owns 374,868 shares of the company’s stock valued at $3,565,000 after acquiring an additional 93,350 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Magnera in the second quarter valued at approximately $4,356,000. Finally, Dimensional Fund Advisors LP lifted its stake in Magnera by 107.9% in the first quarter. Dimensional Fund Advisors LP now owns 253,908 shares of the company’s stock valued at $2,415,000 after acquiring an additional 131,772 shares during the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.

Magnera Company Profile

Magnera Corporation is a global manufacturer of specialty materials, with a focus on nonwoven fabrics, films and related engineered products. The company develops materials designed to provide properties such as softness, strength, absorbency, barrier protection, filtration and durability.

Its products are used in a range of applications, including personal hygiene products, medical and healthcare supplies, wipes, filtration, protective apparel, building and construction materials, agriculture and industrial goods.