Magnera (NYSE:MAGN) Issues Earnings Results

Magnera (NYSE:MAGN) issued its earnings results on Wednesday. The company reported ($0.50) earnings per share (EPS) for the quarter, Zacks reports. Magnera had a negative return on equity of 12.30% and a negative net margin of 4.04%.

Magnera Stock Up 10.0%

Shares of Magnera stock traded up $1.01 on Wednesday, reaching $11.13. 374,973 shares of the company were exchanged, compared to its average volume of 462,672. Magnera has a one year low of $7.82 and a one year high of $15.64. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average of $10.62 and a 200 day moving average of $12.01. The company has a market capitalization of $399.57 million, a price-to-earnings ratio of -4.26 and a beta of 1.75.

Analyst Upgrades and Downgrades

Several analysts recently commented on MAGN shares. Wall Street Zen downgraded Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Vertical Research cut Magnera from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company lowered shares of Magnera from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $19.00 to $12.00 in a report on Friday, March 20th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Magnera currently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MAGN. Lazard Asset Management LLC bought a new stake in shares of Magnera in the 4th quarter valued at about $228,000. Dynamic Technology Lab Private Ltd bought a new position in Magnera during the first quarter worth about $208,000. Brevan Howard Capital Management LP acquired a new position in Magnera during the third quarter worth approximately $203,000. Inceptionr LLC bought a new stake in Magnera in the fourth quarter valued at approximately $200,000. Finally, Simplex Trading LLC lifted its position in shares of Magnera by 193.9% in the fourth quarter. Simplex Trading LLC now owns 11,643 shares of the company’s stock valued at $176,000 after buying an additional 24,041 shares during the last quarter. Institutional investors own 76.92% of the company’s stock.

Magnera Company 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.