Magnera Corporation $MAGN Shares Sold by Madison Avenue Partners LP

Madison Avenue Partners LP cut its stake in shares of Magnera Corporation (NYSE:MAGN) by 37.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,780,649 shares of the company’s stock after selling 1,051,632 shares during the quarter. Magnera makes up approximately 1.2% of Madison Avenue Partners LP’s portfolio, making the stock its 16th biggest position. Madison Avenue Partners LP owned 4.96% of Magnera worth $26,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new stake in Magnera during the fourth quarter worth approximately $15,059,000. Nuveen LLC lifted its stake in Magnera by 969.6% during the fourth quarter. Nuveen LLC now owns 823,177 shares of the company’s stock worth $12,463,000 after purchasing an additional 746,215 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Magnera by 427.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 786,083 shares of the company’s stock worth $11,901,000 after purchasing an additional 637,041 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Magnera during the fourth quarter worth approximately $8,445,000. Finally, Clearline Capital LP lifted its stake in Magnera by 272.4% during the fourth quarter. Clearline Capital LP now owns 660,605 shares of the company’s stock worth $10,002,000 after purchasing an additional 483,204 shares during the last quarter. 76.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAGN. Wells Fargo & Company boosted their target price on Magnera from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. 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 stock presently has an average rating of “Reduce” and a consensus target price of $14.50.

Magnera Price Performance

Magnera stock opened at $12.01 on Thursday. 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 firm has a market capitalization of $429.99 million, a PE ratio of -6.13 and a beta of 1.78. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52. The firm’s 50-day simple moving average is $10.90 and its 200 day simple moving average is $12.36.

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

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.