Magnera Corporation $MAGN Shares Sold by Littlejohn & Co. LLC

Littlejohn & Co. LLC reduced its stake in Magnera Corporation (NYSE:MAGN) by 19.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,593,887 shares of the company’s stock after selling 610,839 shares during the quarter. Magnera accounts for approximately 20.5% of Littlejohn & Co. LLC’s portfolio, making the stock its 2nd biggest position. Littlejohn & Co. LLC owned 0.07% of Magnera worth $39,271,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in shares of Magnera during the fourth quarter worth about $160,000. AXQ Capital LP acquired a new stake in shares of Magnera in the fourth quarter valued at about $526,000. BNP Paribas Financial Markets grew its stake in shares of Magnera by 408.2% in the fourth quarter. BNP Paribas Financial Markets now owns 279,930 shares of the company’s stock valued at $4,238,000 after buying an additional 224,846 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Magnera in the fourth quarter valued at about $15,059,000. Finally, GSA Capital Partners LLP grew its stake in shares of Magnera by 882.9% in the fourth quarter. GSA Capital Partners LLP now owns 128,095 shares of the company’s stock valued at $1,939,000 after buying an additional 115,062 shares in the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

Magnera Stock Down 2.1%

Shares of Magnera stock opened at $11.22 on Friday. The business has a 50-day moving average of $10.42 and a 200-day moving average of $12.30. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.33 and a quick ratio of 1.55. The company has a market capitalization of $401.71 million, a PE ratio of -5.73 and a beta of 1.78. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $15.52.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MAGN shares. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Wells Fargo & Company increased their target price on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $14.50.

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.