Gratia Capital LLC Sells 74,755 Shares of Magnera Corporation $MAGN

Gratia Capital LLC reduced its position in Magnera Corporation (NYSE:MAGN) by 24.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,872 shares of the company’s stock after selling 74,755 shares during the quarter. Magnera makes up about 1.6% of Gratia Capital LLC’s holdings, making the stock its 17th largest position. Gratia Capital LLC’s holdings in Magnera were worth $2,642,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MAGN. Readystate Asset Management LP grew its stake in shares of Magnera by 114.8% during the 1st quarter. Readystate Asset Management LP now owns 202,213 shares of the company’s stock worth $1,923,000 after acquiring an additional 108,082 shares during the period. Dimensional Fund Advisors LP raised its stake in Magnera by 107.9% in the 1st 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 period. Seven Six Capital Management LLC raised its stake in Magnera by 33.2% in the 1st 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 during the period. Ancora Advisors LLC purchased a new stake in Magnera during the second quarter valued at about $4,356,000. Finally, GSA Capital Partners LLP boosted its position in Magnera by 882.9% during the fourth quarter. GSA Capital Partners LLP now owns 128,095 shares of the company’s stock worth $1,939,000 after purchasing an additional 115,062 shares during the period. 76.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAGN has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Magnera in a research note on Thursday, August 27th. Wells Fargo & Company raised their price objective on shares of Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Magnera from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Magnera presently has an average rating of “Reduce” and an average target price of $16.00.

Magnera Stock Down 2.6%

MAGN stock opened at $11.62 on Thursday. The stock has a 50-day simple moving average of $12.82 and a two-hundred day simple moving average of $11.67. Magnera Corporation has a twelve month low of $7.82 and a twelve month high of $15.52. The firm has a market capitalization of $415.82 million, a PE ratio of -5.78 and a beta of 1.73. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 1.87.

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

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.