Alpine Global Management LLC Cuts Position in Magnera Corporation $MAGN

Alpine Global Management LLC decreased its holdings in shares of Magnera Corporation (NYSE:MAGN) by 78.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the company’s stock after selling 179,456 shares during the period. Alpine Global Management LLC’s holdings in Magnera were worth $757,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new stake in Magnera during the 4th quarter valued at about $15,059,000. Nuveen LLC lifted its position in Magnera by 969.6% in the 4th quarter. Nuveen LLC now owns 823,177 shares of the company’s stock valued at $12,463,000 after acquiring an additional 746,215 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Magnera by 427.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 786,083 shares of the company’s stock valued at $11,901,000 after acquiring an additional 637,041 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Magnera during the 4th quarter valued at $8,445,000. Finally, Clearline Capital LP boosted its stake in Magnera by 272.4% during the 4th quarter. Clearline Capital LP now owns 660,605 shares of the company’s stock valued at $10,002,000 after purchasing an additional 483,204 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Magnera Stock Up 1.3%

NYSE MAGN opened at $12.19 on Friday. The stock’s 50-day moving average price is $10.96 and its 200-day moving average price is $12.34. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52. The company has a market capitalization of $436.40 million, a P/E ratio of -6.22 and a beta of 1.78.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $796.00 million for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAGN shares. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Wells Fargo & Company increased their price objective on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnera presently has a consensus rating of “Reduce” and a consensus target price of $14.50.

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.