Y Intercept Hong Kong Ltd Makes New $770,000 Investment in Magnera Corporation $MAGN

Y Intercept Hong Kong Ltd bought a new position in shares of Magnera Corporation (NYSE:MAGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 63,769 shares of the company’s stock, valued at approximately $770,000. Y Intercept Hong Kong Ltd owned approximately 0.18% of Magnera as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MAGN. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Magnera by 11,193.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,694 shares of the company’s stock valued at $31,000 after purchasing an additional 1,679 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Magnera by 88.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 4,400 shares of the company’s stock valued at $53,000 after purchasing an additional 2,060 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Magnera in the 1st quarter valued at $136,000. State of Wyoming acquired a new stake in shares of Magnera in the 1st quarter valued at $172,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Magnera in the 2nd quarter valued at $121,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Stock Up 0.2%

Shares of NYSE MAGN opened at $8.55 on Thursday. 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 Corporation has a 52 week low of $8.40 and a 52 week high of $23.19. The firm has a 50-day moving average price of $10.64 and a 200 day moving average price of $12.25. The stock has a market capitalization of $304.20 million, a price-to-earnings ratio of -1.12 and a beta of 1.73.

Magnera (NYSE:MAGN) last announced its earnings results on Thursday, February 10th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $235.28 million during the quarter. Magnera had a negative net margin of 4.98% and a negative return on equity of 9.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MAGN. Wells Fargo & Company dropped their target price on shares of Magnera from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnera in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of 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 and one has given a Sell rating to the stock. According to data from MarketBeat, Magnera has a consensus rating of “Reduce” and an average price target of $16.50.

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.