Jefferies Financial Group Inc. Makes New $15.06 Million Investment in Magnera Corporation $MAGN

Jefferies Financial Group Inc. bought a new stake in Magnera Corporation (NYSE:MAGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 994,619 shares of the company’s stock, valued at approximately $15,059,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MAGN. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 1,492 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Magnera by 13,014.3% in the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock valued at $56,000 after purchasing an additional 3,644 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Magnera in the third quarter valued at about $99,000. New York State Common Retirement Fund purchased a new stake in shares of Magnera in the second quarter valued at about $127,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Magnera in the third quarter valued at about $129,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MAGN. Wells Fargo & Company increased their target price on shares of Magnera from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen downgraded shares of Magnera from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Magnera in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $14.50.

Magnera Price Performance

MAGN opened at $10.46 on Monday. The firm has a market cap of $374.54 million, a P/E ratio of -5.34 and a beta of 1.75. The firm has a 50-day moving average of $10.21 and a 200 day moving average of $12.15. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $15.52.

Magnera (NYSE:MAGN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $796.00 million for 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.