Magnera (NYSE:MAGN) Earns Hold Rating from Analysts at Vertical Research

Equities research analysts at Vertical Research began coverage on shares of Magnera (NYSE:MAGN) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating and a $21.00 price target on the stock. Vertical Research’s target price points to a potential upside of 8.75% from the company’s previous close.

Separately, Wells Fargo & Company increased their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th.

Magnera Trading Down 0.2 %

Shares of NYSE MAGN opened at $19.31 on Wednesday. The firm’s 50-day simple moving average is $19.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The stock has a market cap of $683.57 million, a PE ratio of -1.05 and a beta of 1.66. Magnera has a 12-month low of $15.80 and a 12-month high of $26.78.

Magnera (NYSE:MAGN) last announced its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. During the same quarter in the previous year, the firm earned ($0.25) EPS.

Insider Buying and Selling

In related news, Director Carl J. Rickertsen bought 20,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the purchase, the director now directly owns 21,306 shares of the company’s stock, valued at approximately $433,150.98. The trade was a 1,531.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Curt Begle bought 23,786 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the purchase, the chief executive officer now directly owns 24,066 shares in the company, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Magnera

A number of hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Magnera in the 4th quarter worth about $26,000. Shell Asset Management Co. bought a new position in Magnera in the 4th quarter worth about $41,000. Vestcor Inc bought a new position in shares of Magnera during the fourth quarter valued at approximately $46,000. State of Alaska Department of Revenue bought a new position in shares of Magnera during the fourth quarter valued at approximately $48,000. Finally, KBC Group NV bought a new position in shares of Magnera during the fourth quarter valued at approximately $51,000. 76.92% of the stock is currently owned by institutional investors.

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.