Atria Investments Inc Acquires Shares of 14,351 Magnera Corporation $MAGN

Atria Investments Inc acquired a new stake in shares of Magnera Corporation (NYSE:MAGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,351 shares of the company’s stock, valued at approximately $173,000.

Several other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Magnera during the 1st quarter valued at $247,000. Vanguard Group Inc. boosted its holdings in shares of Magnera by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,896,519 shares of the company’s stock worth $52,601,000 after purchasing an additional 12,229 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Magnera by 38.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 89,572 shares of the company’s stock worth $1,627,000 after purchasing an additional 24,651 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of 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 during the last quarter. Finally, Invesco Ltd. increased its holdings in Magnera by 194.7% during the 1st quarter. Invesco Ltd. now owns 32,676 shares of the company’s stock valued at $593,000 after purchasing an additional 21,588 shares during the period. 76.92% of the stock is owned by hedge funds and other institutional investors.

Magnera Stock Performance

Shares of Magnera stock opened at $9.04 on Friday. Magnera Corporation has a 12 month low of $8.40 and a 12 month high of $23.19. The firm has a market capitalization of $321.72 million, a P/E ratio of -1.18 and a beta of 1.76. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 1.76. The business has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $12.06.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MAGN. Wall Street Zen lowered Magnera from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Wells Fargo & Company dropped their price target on Magnera from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Magnera currently has an average rating of “Reduce” and an average target price of $16.50.

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.