2,666 Shares in Magnera Corp (NYSE:MAGN) Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new position in shares of Magnera Corp (NYSE:MAGN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,666 shares of the company’s stock, valued at approximately $48,000. State of Alaska Department of Revenue owned 0.08% of Magnera as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. KBC Group NV purchased a new stake in shares of Magnera in the fourth quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Magnera in the fourth quarter valued at approximately $101,000. Finally, Ballentine Partners LLC bought a new position in shares of Magnera in the fourth quarter valued at approximately $295,000. 76.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Magnera news, CEO Curt Begle purchased 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, with a total value of $501,408.88. Following the completion of the purchase, the chief executive officer now directly owns 24,066 shares of the company’s stock, valued at $507,311.28. The trade was a 8,495.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.26% of the company’s stock.

Magnera Trading Down 2.0 %

Shares of MAGN 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 cap of $78.89 million, a PE ratio of -1.23 and a beta of 1.67. The company has a current ratio of 2.49, a quick ratio of 1.04 and a debt-to-equity ratio of 1.80.

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

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased 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 Company 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.