Magnera Corporation $MAGN Position Boosted by AlphaQuest LLC

AlphaQuest LLC increased its holdings in Magnera Corporation (NYSE:MAGN) by 920.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,090 shares of the company’s stock after purchasing an additional 39,769 shares during the quarter. AlphaQuest LLC owned 0.12% of Magnera worth $517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in Magnera in the first quarter worth approximately $208,000. Empowered Funds LLC bought a new stake in shares of Magnera during the 1st quarter worth $965,000. Valeo Financial Advisors LLC acquired a new position in shares of Magnera in the 2nd quarter worth $121,000. FNY Investment Advisers LLC raised its position in shares of Magnera by 88.0% during the second quarter. FNY Investment Advisers LLC now owns 4,400 shares of the company’s stock worth $53,000 after purchasing an additional 2,060 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Magnera during the second quarter valued at $770,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Magnera Price Performance

Shares of MAGN opened at $14.96 on Friday. The company has a market capitalization of $536.14 million, a price-to-earnings ratio of -1.96 and a beta of 1.70. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $23.19. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.37 and a quick ratio of 1.58. The business’s 50-day moving average is $14.38 and its 200-day moving average is $12.32.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MAGN shares. Wells Fargo & Company lifted their price target on Magnera from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a research report on Monday, December 29th. Vertical Research lowered shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Magnera from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Magnera has a consensus rating of “Hold” and an average target price of $17.00.

About Magnera

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.