Magnera Corporation $MAGN Position Increased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in shares of Magnera Corporation (NYSE:MAGN) by 178.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,572 shares of the company’s stock after purchasing an additional 50,393 shares during the period. Y Intercept Hong Kong Ltd owned 0.22% of Magnera worth $747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in shares of Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after purchasing an additional 1,630 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Magnera by 106.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after buying an additional 1,021 shares in the last quarter. Quarry LP bought a new stake in shares of Magnera in the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets grew its stake in shares of Magnera by 92.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after buying an additional 1,492 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Magnera by 13,014.3% in the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after buying an additional 3,644 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $14.50.

Magnera Price Performance

NYSE MAGN opened at $12.88 on Monday. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $15.52. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $12.11. The firm has a market cap of $461.14 million, a P/E ratio of -6.57 and a beta of 1.77. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.33 and a quick ratio of 1.55.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share (EPS) for the quarter. The company 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%.

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.