Magnera (NYSE:MAGN) Research Coverage Started at Vertical Research

Vertical Research assumed coverage on shares of Magnera (NYSE:MAGN) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm issued a hold rating and a $21.00 price target on the stock.

Separately, Wells Fargo & Company increased their target price on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th.

Magnera Trading Down 2.0 %

Shares of Magnera stock opened at $18.65 on Wednesday. Magnera has a 1 year low of $15.80 and a 1 year high of $26.78. The stock has a market cap of $660.21 million, a P/E ratio of -1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. The business has a 50-day simple moving average of $19.78.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same period in the previous year, the business earned ($0.25) EPS.

Insider Buying and Selling at Magnera

In other Magnera news, Director Carl J. Rickertsen purchased 20,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $20.33 per share, with a total value of $406,600.00. Following the acquisition, the director now directly owns 21,306 shares of the company’s stock, valued at $433,150.98. This represents a 1,531.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Curt Begle purchased 23,786 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, with a total value of $501,408.88. Following the purchase, the chief executive officer now owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.26% of the company’s stock.

Institutional Trading of Magnera

A number of large investors have recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new position in shares of Magnera during the fourth quarter worth approximately $295,000. KBC Group NV acquired a new position in Magnera during the 4th quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Magnera in the 4th quarter valued at $101,000. State of Alaska Department of Revenue acquired a new stake in shares of Magnera in the 4th quarter valued at $48,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Magnera during the fourth quarter worth $26,000. 76.92% of the stock is currently owned by institutional investors.

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.