Magnera Corporation $MAGN Stock: Private Management Group Inc. Boosts Holdings

Private Management Group Inc. boosted its position in Magnera Corporation (NYSE:MAGN) by 216.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 590,211 shares of the company’s stock after buying an additional 403,483 shares during the quarter. Private Management Group Inc. owned approximately 1.65% of Magnera worth $6,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newtyn Management LLC lifted its holdings in Magnera by 1.4% during the 2nd quarter. Newtyn Management LLC now owns 2,800,000 shares of the company’s stock worth $32,900,000 after buying an additional 40,000 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Magnera in the 2nd quarter valued at approximately $4,356,000. Seven Six Capital Management LLC increased its holdings in shares of Magnera by 33.2% in the 1st quarter. Seven Six Capital Management LLC now owns 374,868 shares of the company’s stock valued at $3,565,000 after acquiring an additional 93,350 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Magnera by 22.1% during the 2nd quarter. Squarepoint Ops LLC now owns 217,272 shares of the company’s stock valued at $2,553,000 after acquiring an additional 39,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Magnera by 107.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 253,908 shares of the company’s stock valued at $2,415,000 after acquiring an additional 131,772 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

MAGN has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. Wall Street Zen cut shares of Magnera from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Magnera has a consensus rating of “Reduce” and an average target price of $16.00.

Magnera Price Performance

Shares of NYSE MAGN opened at $13.00 on Wednesday. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $15.52. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.45 and a quick ratio of 1.57. The business’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $11.90. The firm has a market capitalization of $465.40 million, a PE ratio of -6.47 and a beta of 1.69.

Magnera Company Profile

Magnera Corporation is a global manufacturer of specialty materials, with a focus on nonwoven fabrics, films and related engineered products. The company develops materials designed to provide properties such as softness, strength, absorbency, barrier protection, filtration and durability. Its products are used in a range of applications, including personal hygiene products, medical and healthcare supplies, wipes, filtration, protective apparel, building and construction materials, agriculture and industrial goods.