Bluefin Capital Management LLC Invests $603,000 in Magnera Corporation $MAGN

Bluefin Capital Management LLC acquired a new position in shares of Magnera Corporation (NYSE:MAGN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,224 shares of the company’s stock, valued at approximately $603,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC purchased a new stake in shares of Magnera during the 4th quarter valued at $135,000. Northern Trust Corp purchased a new stake in shares of Magnera during the 4th quarter valued at $2,272,000. Comerica Bank purchased a new stake in shares of Magnera during the 4th quarter valued at $178,000. Ameriprise Financial Inc. purchased a new stake in shares of Magnera during the 4th quarter valued at $6,027,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Magnera during the 4th quarter valued at $297,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Magnera Price Performance

Shares of Magnera stock opened at $11.69 on Wednesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.54 and a quick ratio of 1.62. The business’s 50 day simple moving average is $12.81 and its two-hundred day simple moving average is $14.46. The stock has a market capitalization of $416.16 million, a P/E ratio of -1.53 and a beta of 1.73. Magnera Corporation has a one year low of $10.39 and a one year high of $26.78.

Magnera (NYSE:MAGN) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.54). The company had revenue of $839.00 million during the quarter. Magnera had a negative return on equity of 9.57% and a negative net margin of 4.98%.The business’s revenue was up 50.9% compared to the same quarter last year.

Analysts Set New Price Targets

MAGN has been the subject of a number of recent research reports. Wall Street Zen downgraded Magnera from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their target price on Magnera from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, July 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.50.

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.