Clearline Capital LP Buys 483,204 Shares of Magnera Corporation $MAGN

Clearline Capital LP increased its stake in shares of Magnera Corporation (NYSE:MAGN) by 272.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 660,605 shares of the company’s stock after buying an additional 483,204 shares during the period. Clearline Capital LP owned 1.84% of Magnera worth $10,002,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bridgeway Capital Management LLC boosted its holdings in shares of Magnera by 10.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 76,789 shares of the company’s stock worth $1,163,000 after buying an additional 7,083 shares during the period. Aristeia Capital L.L.C. bought a new stake in shares of Magnera during the 4th quarter worth about $954,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Magnera during the 4th quarter worth about $251,000. J. Goldman & Co LP boosted its holdings in shares of Magnera by 22.7% during the 4th quarter. J. Goldman & Co LP now owns 538,220 shares of the company’s stock worth $8,149,000 after buying an additional 99,523 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Magnera during the 4th quarter worth about $228,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Magnera Stock Down 1.9%

NYSE MAGN opened at $12.01 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $15.52. The company has a 50 day moving average of $10.90 and a 200-day moving average of $12.36. The company has a market cap of $429.99 million, a price-to-earnings ratio of -6.13 and a beta of 1.78.

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

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.