33,770 Shares in Magnera Corp (NYSE:MAGN) Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 33,770 shares of the company’s stock, valued at approximately $614,000.

A number of other institutional investors have also added to or reduced their stakes in MAGN. Vanguard Group Inc. acquired a new stake in Magnera during the fourth quarter valued at approximately $52,408,000. Engine Capital Management LP acquired a new stake in Magnera during the fourth quarter valued at approximately $42,851,000. Ancora Advisors LLC acquired a new stake in Magnera during the fourth quarter valued at approximately $30,047,000. Khrom Capital Management LLC acquired a new stake in Magnera during the fourth quarter valued at approximately $23,777,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Magnera during the fourth quarter valued at approximately $23,657,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Magnera Trading Down 3.3%

NYSE:MAGN opened at $13.10 on Friday. Magnera Corp has a 1 year low of $12.20 and a 1 year high of $26.78. The firm has a 50 day moving average price of $15.94. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $466.36 million, a PE ratio of -0.71 and a beta of 1.76.

Magnera (NYSE:MAGN) last posted its earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.35). Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The firm had revenue of $824.00 million during the quarter. Magnera’s revenue was up 47.7% on a year-over-year basis.

Insider Activity

In related news, CEO Curt Begle acquired 20,275 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $14.01 per share, for a total transaction of $284,052.75. Following the transaction, the chief executive officer now directly owns 44,341 shares of the company’s stock, valued at approximately $621,217.41. This trade represents a 84.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carl J. Rickertsen acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now directly owns 21,306 shares in the company, valued at $433,150.98. The trade was a 1,531.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 80,275 shares of company stock worth $1,266,653. Insiders own 2.26% of the company’s stock.

Analyst Ratings Changes

MAGN has been the topic of a number of recent research reports. Wells Fargo & Company downgraded Magnera from an “overweight” rating to a “reduce” rating in a report on Wednesday. Vertical Research initiated coverage on Magnera in a report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock.

Magnera 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.