CastleKnight Management LP Sells 72,505 Shares of Magnera Corporation $MAGN

CastleKnight Management LP lowered its stake in shares of Magnera Corporation (NYSE:MAGN) by 28.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 183,495 shares of the company’s stock after selling 72,505 shares during the quarter. CastleKnight Management LP owned 0.51% of Magnera worth $2,778,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MAGN. Quadrant Capital Group LLC increased its position in shares of Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock valued at $28,000 after purchasing an additional 1,630 shares during the last quarter. Caitong International Asset Management Co. Ltd increased 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 purchasing an additional 1,021 shares during the last quarter. Quarry LP purchased a new position in Magnera during the 4th quarter valued at $30,000. BNP Paribas Financial Markets boosted its holdings in 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 during the period. Finally, GAMMA Investing LLC boosted its holdings in Magnera by 13,014.3% during the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock valued at $56,000 after acquiring an additional 3,644 shares during the period. Institutional investors own 76.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MAGN. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Wells Fargo & Company boosted their price objective on Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $14.50.

Magnera Price Performance

MAGN opened at $12.01 on Thursday. The business has a fifty day moving average of $10.90 and a 200 day moving average of $12.36. Magnera Corporation has a 52-week low of $7.82 and a 52-week high of $15.52. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. The stock has a market cap of $429.99 million, a P/E ratio of -6.13 and a beta of 1.78.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share (EPS) for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%. The business had revenue of $796.00 million for the quarter.

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.