Magnera Target of Unusually Large Options Trading (NYSE:MAGN)

Magnera Corp (NYSE:MAGN) was the target of unusually large options trading on Tuesday. Stock traders bought 2,116 put options on the stock. This represents an increase of 1,274% compared to the average daily volume of 154 put options.

Magnera Stock Up 0.2 %

Shares of NYSE:MAGN opened at $18.19 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. Magnera has a fifty-two week low of $15.80 and a fifty-two week high of $26.78. The firm has a market capitalization of $643.93 million, a PE ratio of -0.99 and a beta of 1.66. The company has a 50 day moving average price of $19.76.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) for the quarter. Magnera had a negative return on equity of 10.62% and a negative net margin of 6.97%. During the same quarter in the previous year, the firm earned ($0.25) EPS.

Insider Transactions at Magnera

In other Magnera news, CEO Curt Begle acquired 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the acquisition, the chief executive officer now owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl J. Rickertsen bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $20.33 per share, for a total transaction of $406,600.00. Following the completion of the purchase, the director now owns 21,306 shares in the company, valued at $433,150.98. This trade represents a 1,531.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Madison Avenue Partners LP acquired a new stake in shares of Magnera during the 4th quarter worth about $61,892,000. Vanguard Group Inc. purchased a new position in Magnera in the fourth quarter valued at approximately $52,408,000. Engine Capital Management LP acquired a new stake in Magnera during the fourth quarter worth approximately $42,851,000. Ancora Advisors LLC purchased a new stake in shares of Magnera during the 4th quarter worth approximately $30,047,000. Finally, Littlejohn & Co. LLC acquired a new position in shares of Magnera in the 4th quarter valued at $25,591,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAGN has been the topic of a number of recent research reports. Vertical Research initiated coverage on Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective on the stock. Wells Fargo & Company upped their price target on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 7th.

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.