Magnera Sees Unusually Large Options Volume (NYSE:MAGN)

Magnera Corp (NYSE:MAGN) was the target of some unusual options trading activity on Tuesday. Investors acquired 2,116 put options on the company. This is an increase of approximately 1,274% compared to the average daily volume of 154 put options.

Magnera Stock Up 1.9 %

MAGN opened at $18.52 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.45 and a quick ratio of 1.52. The company has a market cap of $655.61 million, a P/E ratio of -1.01 and a beta of 1.76. Magnera has a 52 week low of $15.80 and a 52 week high of $26.78. The firm’s 50-day moving average is $19.78.

Magnera (NYSE:MAGN) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) 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 quarter in the previous year, the firm earned ($0.25) earnings per share.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MAGN shares. Wells Fargo & Company boosted their price target on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Vertical Research assumed coverage on Magnera in a report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 target price on the stock.

Insider Buying and Selling at Magnera

In other news, CEO Curt Begle bought 23,786 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the purchase, the chief executive officer now owns 24,066 shares in the company, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carl J. Rickertsen purchased 20,000 shares of Magnera stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Magnera

Several institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in Magnera during the 4th quarter valued at $550,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Magnera during the fourth quarter valued at $350,000. Jefferies Financial Group Inc. bought a new stake in shares of Magnera in the 4th quarter worth about $614,000. Toronto Dominion Bank purchased a new position in shares of Magnera during the 4th quarter worth about $358,000. Finally, Alpine Global Management LLC bought a new position in Magnera during the 4th quarter valued at about $1,866,000. 76.92% of the stock is 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.