Madison Avenue Partners LP Trims Stock Position in Magnera Corporation $MAGN

Madison Avenue Partners LP cut its holdings in shares of Magnera Corporation (NYSE:MAGN) by 37.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,780,649 shares of the company’s stock after selling 1,051,632 shares during the quarter. Magnera comprises approximately 1.2% of Madison Avenue Partners LP’s portfolio, making the stock its 16th biggest holding. Madison Avenue Partners LP’s holdings in Magnera were worth $26,959,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MAGN. Jefferies Financial Group Inc. purchased a new position in Magnera during the fourth quarter worth about $15,059,000. Nuveen LLC raised its holdings in shares of Magnera by 969.6% in the 4th 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 period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Magnera by 427.4% in the 4th 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 period. SG Americas Securities LLC purchased a new position in shares of Magnera in the 4th quarter worth about $8,445,000. Finally, Clearline Capital LP raised its holdings in shares of Magnera by 272.4% in the 4th 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 period. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Magnera Price Performance

Shares of NYSE MAGN opened at $12.01 on Thursday. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $15.52. The business has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $12.36. 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 cap of $429.99 million, a PE ratio of -6.13 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Wells Fargo & Company increased their target price on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.50.

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.