Healthcare of Ontario Pension Plan Trust Fund Sells 74,116 Shares of Magnera Corporation $MAGN

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in Magnera Corporation (NYSE:MAGN) by 61.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,599 shares of the company’s stock after selling 74,116 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Magnera were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MAGN. Quadrant Capital Group LLC raised its holdings in shares of Magnera by 702.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after purchasing an additional 1,630 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Magnera by 106.7% during the fourth 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 period. Quarry LP purchased a new stake in Magnera in the fourth quarter worth $30,000. BNP Paribas Financial Markets raised its stake in shares of Magnera by 92.7% in the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock valued at $37,000 after buying an additional 1,492 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in shares of Magnera during the 3rd quarter valued at $99,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Analyst Ratings Changes

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

Magnera Price Performance

Shares of NYSE:MAGN opened at $13.22 on Monday. The company has a 50 day moving average of $12.43 and a 200 day moving average of $11.97. The company has a current ratio of 2.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.83. The stock has a market cap of $473.13 million, a P/E ratio of -6.74 and a beta of 1.74. Magnera Corporation has a 12 month low of $7.82 and a 12 month high of $15.52.

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

Magnera 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.