Aristeia Capital L.L.C. Takes Position in Magnera Corporation $MAGN

Aristeia Capital L.L.C. purchased a new stake in shares of Magnera Corporation (NYSE:MAGN) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 62,996 shares of the company’s stock, valued at approximately $954,000. Aristeia Capital L.L.C. owned 0.18% of Magnera at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAGN. Quadrant Capital Group LLC lifted its position in shares of Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after acquiring an additional 1,630 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Magnera by 106.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after acquiring an additional 1,021 shares during the period. Quarry LP acquired a new stake in shares of Magnera during the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets lifted its position in shares of Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after acquiring an additional 1,492 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Magnera by 13,014.3% during the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after purchasing an additional 3,644 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAGN. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Wells Fargo & Company lifted their price objective on Magnera from $12.00 to $13.00 and gave the stock 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 given a Sell rating to the company. Based on data from MarketBeat, Magnera currently has an average rating of “Reduce” and a consensus target price of $14.50.

Magnera Stock Down 1.9%

MAGN stock opened at $12.01 on Thursday. The stock has a market capitalization of $429.99 million, a P/E ratio of -6.13 and a beta of 1.78. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. Magnera Corporation has a one year low of $7.82 and a one year high of $15.52. The company has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $12.36.

Magnera (NYSE:MAGN) last released its earnings results on Thursday, May 7th. The company reported ($0.50) EPS for the quarter. The firm had revenue of $796.00 million during the quarter. Magnera had a negative return on equity of 10.30% and a negative net margin of 3.37%.

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.