Squarepoint Ops LLC Makes New Investment in Magnera Corp (NYSE:MAGN)

Squarepoint Ops LLC purchased a new stake in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, Holdings Channel reports. The fund purchased 28,959 shares of the company’s stock, valued at approximately $526,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Madison Avenue Partners LP acquired a new position in Magnera in the 4th quarter valued at approximately $61,892,000. Vanguard Group Inc. acquired a new stake in shares of Magnera in the fourth quarter valued at about $52,408,000. Engine Capital Management LP bought a new position in shares of Magnera during the fourth quarter worth about $42,851,000. Ancora Advisors LLC acquired a new stake in Magnera during the 4th quarter valued at approximately $30,047,000. Finally, Littlejohn & Co. LLC bought a new stake in shares of Magnera in the 4th quarter valued at $25,591,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Stock Down 1.0%

NYSE MAGN opened at $12.29 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.52 and a current ratio of 2.45. Magnera Corp has a 52 week low of $11.43 and a 52 week high of $26.78. The firm’s 50 day moving average price is $14.16. The company has a market capitalization of $437.52 million, a P/E ratio of -0.67 and a beta of 1.76.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($1.35). The business had revenue of $824.00 million for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The business’s quarterly revenue was up 47.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MAGN. Wells Fargo & Company downgraded shares of Magnera from an “overweight” rating to a “reduce” rating in a research note on Wednesday, May 14th. Vertical Research assumed coverage on shares of Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock.

Insider Transactions at Magnera

In other news, CEO Curt Begle acquired 20,275 shares of Magnera stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $14.01 per share, with a total value of $284,052.75. Following the transaction, the chief executive officer now owns 44,341 shares of the company’s stock, valued at approximately $621,217.41. This trade represents a 84.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tom Salmon bought 17,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were purchased at an average cost of $11.94 per share, for a total transaction of $202,980.00. Following the transaction, the director now owns 35,289 shares in the company, valued at approximately $421,350.66. This represents a 92.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 94,215 shares of company stock valued at $1,263,094 over the last three months. Corporate insiders own 2.26% of the company’s stock.

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.