Swiss National Bank Trims Stock Holdings in Magnera Corporation $MAGN

Swiss National Bank trimmed its holdings in Magnera Corporation (NYSE:MAGN) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,631 shares of the company’s stock after selling 8,100 shares during the quarter. Swiss National Bank owned approximately 0.17% of Magnera worth $1,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Magnera by 11,193.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,694 shares of the company’s stock worth $31,000 after purchasing an additional 1,679 shares in the last quarter. Shell Asset Management Co. bought a new stake in Magnera during the 4th quarter valued at $41,000. Marshall Wace LLP lifted its holdings in shares of Magnera by 3.0% during the 4th quarter. Marshall Wace LLP now owns 107,230 shares of the company’s stock valued at $1,948,000 after purchasing an additional 3,161 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Magnera during the 4th quarter valued at $58,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Magnera by 1,132.5% during the 1st quarter. GAMMA Investing LLC now owns 3,759 shares of the company’s stock valued at $68,000 after purchasing an additional 3,454 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Magnera

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

Magnera Trading Down 3.4%

MAGN opened at $12.85 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.54 and a quick ratio of 1.62. The company’s 50 day simple moving average is $12.89 and its two-hundred day simple moving average is $15.17. Magnera Corporation has a 1-year low of $10.39 and a 1-year high of $26.78. The firm has a market capitalization of $457.46 million, a price-to-earnings ratio of -1.68 and a beta of 1.67.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MAGN shares. Wells Fargo & Company reduced their target price on Magnera from $16.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. Wall Street Zen downgraded Magnera from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.50.

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.