Barclays PLC Takes $135,000 Position in Magnera Corp (NYSE:MAGN)

Barclays PLC acquired a new stake in shares of Magnera Corp (NYSE:MAGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,414 shares of the company’s stock, valued at approximately $135,000. Barclays PLC owned approximately 0.21% of Magnera as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Magnera in the 4th quarter worth approximately $52,408,000. LSV Asset Management acquired a new position in shares of Magnera during the 4th quarter valued at $18,382,000. Loomis Sayles & Co. L P acquired a new position in shares of Magnera during the 4th quarter valued at $10,969,000. Geode Capital Management LLC acquired a new position in shares of Magnera during the 4th quarter valued at $6,491,000. Finally, DG Capital Management LLC acquired a new position in shares of Magnera during the 4th quarter valued at $6,340,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Insider Buying and Selling

In other news, Director Kevin Michael Fogarty acquired 20,000 shares of Magnera stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $15.15 per share, with a total value of $303,000.00. Following the completion of the transaction, the director now owns 31,538 shares in the company, valued at approximately $477,800.70. This trade represents a 173.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Curt Begle purchased 20,275 shares of Magnera stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $14.01 per share, with a total value of $284,052.75. Following the transaction, the chief executive officer now directly owns 44,341 shares of the company’s stock, valued at approximately $621,217.41. The trade was a 84.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 60,275 shares of company stock worth $993,653 in the last three months. 2.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MAGN. Wells Fargo & Company lifted their price target on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Vertical Research assumed coverage on Magnera in a report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 target price on the stock.

Magnera Stock Up 2.1%

Shares of NYSE MAGN opened at $15.06 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.45 and a debt-to-equity ratio of 1.80. The firm has a market cap of $536.14 million, a PE ratio of -0.82 and a beta of 1.76. The stock has a fifty day moving average of $16.31. Magnera Corp has a 52-week low of $12.20 and a 52-week high of $26.78.

Magnera (NYSE:MAGN) last issued its earnings results on Wednesday, May 7th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.35). The company had revenue of $824.00 million during the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business’s revenue was up 47.7% compared to the same quarter last year.

Magnera Company 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.