XTX Topco Ltd Takes Position in Magnera Corporation (NYSE:MAGN)

XTX Topco Ltd acquired a new stake in Magnera Corporation (NYSE:MAGN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,583 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors have also modified their holdings of the company. Cannon Global Investment Management LLC acquired a new position in Magnera during the first quarter worth approximately $301,000. Mirae Asset Global Investments Co. Ltd. increased its position in Magnera by 109.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,840 shares of the company’s stock worth $216,000 after purchasing an additional 6,180 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Magnera by 15.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 27,091 shares of the company’s stock worth $492,000 after purchasing an additional 3,598 shares during the last quarter. SG Americas Securities LLC acquired a new position in Magnera during the first quarter worth approximately $321,000. Finally, GAMMA Investing LLC increased its position in Magnera by 1,132.5% during the first quarter. GAMMA Investing LLC now owns 3,759 shares of the company’s stock worth $68,000 after purchasing an additional 3,454 shares during the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

Insider Activity

In other news, Director Bruce Brown bought 16,940 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $11.81 per share, for a total transaction of $200,061.40. Following the completion of the purchase, the director owned 17,228 shares of the company’s stock, valued at $203,462.68. This trade represents a 5,881.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tom Salmon bought 17,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $11.94 per share, with a total value of $202,980.00. Following the completion of the purchase, the director directly owned 35,289 shares of the company’s stock, valued at approximately $421,350.66. This trade represents a 92.95% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 53,940 shares of company stock worth $676,041. 2.26% of the stock is currently owned by company insiders.

Magnera Price Performance

Magnera stock opened at $12.89 on Tuesday. Magnera Corporation has a 52-week low of $10.39 and a 52-week high of $26.78. The firm has a fifty day moving average of $12.93 and a 200-day moving average of $15.58. The firm has a market capitalization of $458.88 million, a P/E ratio of -1.69 and a beta of 1.67. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 1.76.

Magnera (NYSE:MAGN) last announced its earnings results on Wednesday, August 6th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.54). The firm had revenue of $839.00 million during the quarter. Magnera had a negative net margin of 4.98% and a negative return on equity of 9.57%. The firm’s quarterly revenue was up 50.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Magnera from a “hold” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company dropped their price target on shares of Magnera from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, July 18th.

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.