Y Intercept Hong Kong Ltd Purchases 50,393 Shares of Magnera Corporation $MAGN

Y Intercept Hong Kong Ltd boosted its position in Magnera Corporation (NYSE:MAGN) by 178.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 78,572 shares of the company’s stock after acquiring an additional 50,393 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Magnera were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MAGN. Brown Advisory Inc. lifted its position in Magnera by 3.6% during the 2nd quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock worth $304,000 after acquiring an additional 869 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Magnera by 106.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after purchasing an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Magnera by 2.0% in the second quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock valued at $751,000 after purchasing an additional 1,196 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Magnera by 92.7% in the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Magnera by 702.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after purchasing an additional 1,630 shares during the period. Institutional investors own 76.92% of the company’s stock.

Magnera Trading Down 0.1%

Shares of MAGN stock opened at $12.88 on Monday. The firm has a market capitalization of $461.14 million, a P/E ratio of -6.57 and a beta of 1.77. Magnera Corporation has a 1 year low of $7.82 and a 1 year high of $15.52. The firm’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $12.11. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83.

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

Analysts Set New Price Targets

MAGN has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Magnera from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price 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.