Magnera Corporation $MAGN Stake Cut by Littlejohn & Co. LLC

Littlejohn & Co. LLC cut its holdings in Magnera Corporation (NYSE:MAGN) by 19.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,593,887 shares of the company’s stock after selling 610,839 shares during the period. Magnera accounts for about 20.5% of Littlejohn & Co. LLC’s holdings, making the stock its 2nd biggest position. Littlejohn & Co. LLC owned 7.23% of Magnera worth $39,271,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Scopia Capital Management LP raised its holdings in Magnera by 46.7% in the 2nd quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock valued at $12,210,000 after acquiring an additional 321,579 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Magnera in the 4th quarter valued at $15,059,000. Brightline Capital Management LLC raised its holdings in Magnera by 0.9% in the 3rd quarter. Brightline Capital Management LLC now owns 560,000 shares of the company’s stock valued at $6,563,000 after acquiring an additional 5,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in Magnera in the 4th quarter valued at $8,445,000. Finally, Ameriprise Financial Inc. raised its holdings in Magnera by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 431,069 shares of the company’s stock valued at $5,207,000 after acquiring an additional 89,347 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Finally, Wall Street Zen downgraded Magnera from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $14.50.

Magnera Trading Down 2.1%

MAGN stock opened at $11.22 on Friday. The company has a market cap of $401.71 million, a price-to-earnings ratio of -5.73 and a beta of 1.78. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. The business has a fifty day simple moving average of $10.42 and a 200-day simple moving average of $12.30. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52.

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

Magnera 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.