Healthcare of Ontario Pension Plan Trust Fund Has $443,000 Stock Holdings in Magnera Corporation $MAGN

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Magnera Corporation (NYSE:MAGN) by 61.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,599 shares of the company’s stock after selling 74,116 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.13% of Magnera worth $443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in Magnera by 702.6% in 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 boosted its holdings in Magnera by 106.7% in the fourth 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 in the last quarter. Quarry LP acquired a new stake in Magnera in the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets increased its holdings in shares of Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after acquiring an additional 1,492 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Magnera during the third quarter valued at approximately $99,000. Institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

MAGN has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on 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 upgraded shares of Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings raised shares of Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Two 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 company has a consensus rating of “Reduce” and a consensus price target of $16.00.

Magnera Trading Down 0.3%

NYSE:MAGN opened at $13.22 on Monday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. The firm has a market cap of $473.13 million, a price-to-earnings ratio of -6.74 and a beta of 1.74. Magnera Corporation has a 52 week low of $7.82 and a 52 week high of $15.52. The firm has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.97.

Magnera (NYSE:MAGN) last announced its earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The business 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%.

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.