Gratia Capital LLC Has $2.64 Million Stock Holdings in Magnera Corporation $MAGN

Gratia Capital LLC trimmed its holdings in Magnera Corporation (NYSE:MAGN) by 24.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,872 shares of the company’s stock after selling 74,755 shares during the period. Magnera comprises about 1.6% of Gratia Capital LLC’s holdings, making the stock its 17th largest position. Gratia Capital LLC owned approximately 0.63% of Magnera worth $2,642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in shares of Magnera by 702.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after acquiring an additional 1,630 shares in the last quarter. Quarry LP bought a new position in Magnera in the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd boosted its stake in Magnera by 106.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after purchasing an additional 1,021 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Magnera during the 2nd quarter worth approximately $55,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Stock Performance

MAGN stock opened at $11.62 on Thursday. The firm has a market cap of $415.82 million, a PE ratio of -5.78 and a beta of 1.73. The company has a quick ratio of 1.57, a current ratio of 2.45 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average of $12.82 and a 200-day moving average of $11.67. Magnera Corporation has a 12-month low of $7.82 and a 12-month high of $15.52.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.56) EPS for the quarter. The business had revenue of $857.00 million for the quarter. Magnera had a negative return on equity of 10.77% and a negative net margin of 3.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MAGN. Weiss Ratings reissued a “sell (d+)” rating on shares of Magnera in a research note on Thursday, August 27th. Wall Street Zen upgraded Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Wells Fargo & Company increased their price target on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Magnera has a consensus rating of “Reduce” and a consensus target price of $16.00.

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.