Cubist Systematic Strategies LLC Takes Position in Magnera Corp (NYSE:MAGN)

Cubist Systematic Strategies LLC bought a new stake in Magnera Corp (NYSE:MAGN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,477 shares of the company’s stock, valued at approximately $245,000. Cubist Systematic Strategies LLC owned approximately 0.39% of Magnera at the end of the most recent quarter.

Several other large investors have also modified their holdings of MAGN. Vanguard Group Inc. acquired a new position in shares of Magnera in the 4th quarter valued at $52,408,000. Ancora Advisors LLC purchased a new stake in Magnera in the 4th quarter valued at $30,047,000. Khrom Capital Management LLC purchased a new stake in Magnera in the 4th quarter valued at $23,777,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Magnera in the 4th quarter valued at $23,657,000. Finally, LSV Asset Management purchased a new stake in Magnera in the 4th quarter valued at $18,382,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Stock Performance

Shares of Magnera stock opened at $13.10 on Friday. The stock has a market cap of $466.36 million, a P/E ratio of -0.71 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 Corp has a one year low of $12.20 and a one year high of $26.78. The stock’s fifty day moving average price is $15.94.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($1.35). The firm had revenue of $824.00 million for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company downgraded shares of Magnera from an “overweight” rating to a “reduce” rating in a research report on Wednesday. Vertical Research assumed coverage on shares of Magnera in a research report on Wednesday, March 19th. They issued a “hold” rating and a $21.00 price target for the company.

Insiders Place Their Bets

In related news, Director Carl J. Rickertsen purchased 20,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $20.33 per share, for a total transaction of $406,600.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Curt Begle purchased 20,275 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $14.01 per share, with a total value of $284,052.75. Following the acquisition, the chief executive officer now directly owns 44,341 shares in the company, valued at approximately $621,217.41. This represents a 84.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 80,275 shares of company stock worth $1,266,653. 2.26% of the stock is owned by insiders.

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.