Magnera Corp (NYSE:MAGN) CEO Acquires $501,408.88 in Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle bought 23,786 shares of Magnera stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $21.08 per share, with a total value of $501,408.88. Following the completion of the acquisition, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at $507,311.28. This represents a 8,495.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Magnera Price Performance

MAGN traded up $0.90 during trading on Wednesday, reaching $22.47. 537,441 shares of the stock traded hands, compared to its average volume of 480,940. The company has a current ratio of 2.49, a quick ratio of 1.04 and a debt-to-equity ratio of 1.80. Magnera Corp has a fifty-two week low of $15.80 and a fifty-two week high of $31.07. The stock has a market cap of $78.65 million, a price-to-earnings ratio of -1.23 and a beta of 1.67.

Magnera (NYSE:MAGN) last posted its earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 22.40%. During the same quarter last year, the firm earned ($0.25) earnings per share.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their price objective on shares of Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th.

Institutional Trading of Magnera

A number of institutional investors and hedge funds have recently made changes to their positions in MAGN. Arrowstreet Capital Limited Partnership acquired a new position in Magnera during the 4th quarter worth $995,000. Norges Bank acquired a new stake in Magnera in the 4th quarter valued at approximately $1,763,000. Loomis Sayles & Co. L P acquired a new position in shares of Magnera during the fourth quarter worth approximately $10,969,000. JPMorgan Chase & Co. bought a new stake in shares of Magnera in the fourth quarter valued at approximately $1,629,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Magnera in the fourth quarter worth $52,408,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.