Magnera Corporation $MAGN Shares Purchased by Private Management Group Inc.

Private Management Group Inc. grew its position in Magnera Corporation (NYSE:MAGN) by 216.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 590,211 shares of the company’s stock after buying an additional 403,483 shares during the period. Private Management Group Inc.’s holdings in Magnera were worth $6,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MAGN. Newtyn Management LLC increased its stake in shares of Magnera by 1.4% in the second quarter. Newtyn Management LLC now owns 2,800,000 shares of the company’s stock valued at $32,900,000 after purchasing an additional 40,000 shares during the period. Seven Six Capital Management LLC raised its holdings in shares of Magnera by 33.2% during the first quarter. Seven Six Capital Management LLC now owns 374,868 shares of the company’s stock valued at $3,565,000 after buying an additional 93,350 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Magnera during the second quarter worth approximately $4,356,000. Dimensional Fund Advisors LP boosted its position in shares of Magnera by 107.9% during the first quarter. Dimensional Fund Advisors LP now owns 253,908 shares of the company’s stock worth $2,415,000 after buying an additional 131,772 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Magnera by 22.1% during the second quarter. Squarepoint Ops LLC now owns 217,272 shares of the company’s stock worth $2,553,000 after buying an additional 39,394 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.

Magnera Stock Down 0.2%

MAGN opened at $13.00 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.57 and a current ratio of 2.45. The company has a market capitalization of $465.40 million, a PE ratio of -6.47 and a beta of 1.69. The stock’s fifty day moving average is $11.78 and its 200-day moving average is $11.90. Magnera Corporation has a one year low of $7.82 and a one year high of $15.52.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Magnera in a research report on Thursday, August 27th. Finally, Wall Street Zen lowered Magnera from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Magnera currently has an average rating of “Reduce” and an average price target of $16.00.

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.