Magnera (NYSE:MAGN) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Magnera (NYSE:MAGN) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price objective on Magnera from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnera in a research note on Monday, December 29th. Finally, Vertical Research lowered Magnera from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.50.

Magnera Stock Performance

MAGN stock opened at $14.93 on Friday. Magnera has a 1 year low of $7.82 and a 1 year high of $23.19. The stock’s fifty day moving average price is $14.39 and its 200-day moving average price is $12.33. The company has a market cap of $535.13 million, a P/E ratio of -1.95 and a beta of 1.70. The company has a debt-to-equity ratio of 1.86, a current ratio of 2.45 and a quick ratio of 1.58.

Institutional Investors Weigh In On Magnera

A number of hedge funds have recently made changes to their positions in MAGN. GSA Capital Partners LLP grew its stake in Magnera by 882.9% in the fourth quarter. GSA Capital Partners LLP now owns 128,095 shares of the company’s stock valued at $1,939,000 after purchasing an additional 115,062 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Magnera during the fourth quarter valued at about $236,000. SG Americas Securities LLC bought a new stake in shares of Magnera in the 4th quarter valued at about $8,445,000. GAMMA Investing LLC grew its position in shares of Magnera by 13,014.3% in the 4th quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after buying an additional 3,644 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Magnera by 119.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,803 shares of the company’s stock worth $654,000 after acquiring an additional 30,404 shares in the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

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.