Mirae Asset Global Investments Co. Ltd. Purchases New Position in Magnera Corp (NYSE:MAGN)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Magnera Corp (NYSE:MAGN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,660 shares of the company’s stock, valued at approximately $101,000. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of Magnera as of its most recent SEC filing.

Separately, KBC Group NV acquired a new stake in Magnera during the 4th quarter worth approximately $51,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Curt Begle bought 23,786 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was bought at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the transaction, the chief executive officer now owns 24,066 shares of the company’s stock, valued at $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price objective on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Magnera Trading Down 2.0 %

Shares of Magnera stock opened at $22.54 on Friday. Magnera Corp has a twelve month low of $15.80 and a twelve month high of $31.07. The stock has a market capitalization of $78.87 million, a price-to-earnings ratio of -1.23 and a beta of 1.67. The company has a quick ratio of 1.04, a current ratio of 2.49 and a debt-to-equity ratio of 1.80.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 6.97% and a negative return on equity of 22.40%. During the same period in the prior year, the firm earned ($0.25) earnings per share.

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.