Alpine Global Management LLC Purchases 129,456 Shares of Magnera Corporation $MAGN

Alpine Global Management LLC raised its position in shares of Magnera Corporation (NYSE:MAGN) by 129.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,456 shares of the company’s stock after acquiring an additional 129,456 shares during the quarter. Alpine Global Management LLC owned about 0.64% of Magnera worth $2,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAGN. Engine Capital Management LP boosted its position in shares of Magnera by 5.3% during the 2nd quarter. Engine Capital Management LP now owns 2,481,317 shares of the company’s stock worth $29,974,000 after purchasing an additional 124,076 shares in the last quarter. Scopia Capital Management LP grew its stake in shares of Magnera by 46.7% in the 2nd quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock worth $12,210,000 after acquiring an additional 321,579 shares in the last quarter. Geode Capital Management LLC grew its position in Magnera by 110.0% in the 2nd quarter. Geode Capital Management LLC now owns 783,413 shares of the company’s stock worth $9,465,000 after purchasing an additional 410,303 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Magnera by 118.1% during the third quarter. Assenagon Asset Management S.A. now owns 753,906 shares of the company’s stock valued at $8,836,000 after acquiring an additional 408,181 shares during the last quarter. Finally, Brightline Capital Management LLC increased its position in shares of Magnera by 0.9% during the 3rd quarter. Brightline Capital Management LLC now owns 560,000 shares of the company’s stock valued at $6,563,000 after purchasing an additional 5,000 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MAGN. Wells Fargo & Company lifted their price target on shares of Magnera from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Magnera in a research report on Monday, December 29th. Vertical Research downgraded Magnera from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Magnera currently has a consensus rating of “Hold” and an average target price of $17.50.

Magnera Price Performance

NYSE MAGN opened at $10.86 on Wednesday. The business’s fifty day moving average is $13.39 and its 200 day moving average is $12.32. The company has a market capitalization of $389.77 million, a PE ratio of -4.16 and a beta of 1.69. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.60 and a current ratio of 2.45. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $19.67.

Magnera (NYSE:MAGN) last released its earnings results on Thursday, February 5th. The company reported ($0.34) EPS for the quarter. The firm had revenue of $792.00 million for the quarter. Magnera had a negative return on equity of 12.30% and a negative net margin of 4.04%.

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.