Magnera (NYSE:MAGN) Sets New 1-Year Low – Should You Sell?

Magnera Corp (NYSE:MAGN) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $15.65 and last traded at $15.91, with a volume of 26644 shares. The stock had previously closed at $17.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MAGN. Wells Fargo & Company increased their target price on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Vertical Research started coverage on shares of Magnera in a research note on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective for the company.

Magnera Stock Down 12.2 %

The business has a 50-day moving average of $19.72. The company has a market cap of $530.65 million, a PE ratio of -0.82 and a beta of 1.76. 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 (NYSE:MAGN) last posted its quarterly earnings results 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 period in the previous year, the business posted ($0.25) EPS.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Magnera

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Magnera during the 4th quarter worth approximately $26,000. Shell Asset Management Co. purchased a new position in shares of Magnera during the fourth quarter worth $41,000. Vestcor Inc acquired a new stake in shares of Magnera in the fourth quarter valued at $46,000. State of Alaska Department of Revenue purchased a new stake in shares of Magnera in the 4th quarter valued at $48,000. Finally, KBC Group NV acquired a new position in Magnera during the 4th quarter worth about $51,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

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.