Magnera (NYSE:MAGN) Issues Earnings Results

Magnera (NYSE:MAGN) posted its quarterly earnings data on Wednesday. The company reported ($0.56) earnings per share for the quarter, Zacks reports. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%.

Magnera Stock Performance

Shares of MAGN stock opened at $13.58 on Thursday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. Magnera has a one year low of $7.82 and a one year high of $15.52. The company’s 50-day simple moving average is $12.60 and its 200-day simple moving average is $11.94. The stock has a market capitalization of $486.02 million, a price-to-earnings ratio of -6.93 and a beta of 1.74.

Wall Street Analyst Weigh In

MAGN has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Magnera from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Finally, Wall Street Zen raised Magnera from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $16.00.

Institutional Trading of Magnera

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after buying an additional 1,630 shares during the last quarter. Quarry LP bought a new stake in shares of Magnera in the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of Magnera by 106.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after acquiring an additional 1,021 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Magnera by 92.7% during the 2nd 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 acquired a new position in Magnera in the third quarter worth $99,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

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.