Seven Six Capital Management LLC Grows Stock Holdings in Magnera Corporation $MAGN

Seven Six Capital Management LLC grew its stake in shares of Magnera Corporation (NYSE:MAGN) by 33.2% during the 1st quarter, HoldingsChannel reports. The fund owned 374,868 shares of the company’s stock after buying an additional 93,350 shares during the period. Magnera comprises 3.8% of Seven Six Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Seven Six Capital Management LLC’s holdings in Magnera were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its holdings in Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after buying an additional 1,630 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $30,000 after acquiring an additional 1,021 shares during the period. Quarry LP purchased a new stake in Magnera in the 4th quarter worth approximately $30,000. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 1,492 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Magnera by 13,014.3% during the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock valued at $56,000 after purchasing an additional 3,644 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Finally, Wall Street Zen raised Magnera from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.00.

Magnera Trading Down 1.4%

NYSE:MAGN opened at $13.80 on Thursday. The firm has a market capitalization of $494.08 million, a P/E ratio of -7.04 and a beta of 1.77. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52. 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 company has a fifty day moving average of $12.31 and a 200 day moving average of $11.99.

Magnera (NYSE:MAGN) last issued 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 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.