Aristeia Capital L.L.C. Takes Position in Magnera Corporation $MAGN

Aristeia Capital L.L.C. acquired a new stake in shares of Magnera Corporation (NYSE:MAGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 62,996 shares of the company’s stock, valued at approximately $954,000.

Several other institutional investors also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in Magnera during the 4th quarter worth $251,000. J. Goldman & Co LP lifted its stake in shares of Magnera by 22.7% during the fourth quarter. J. Goldman & Co LP now owns 538,220 shares of the company’s stock worth $8,149,000 after purchasing an additional 99,523 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Magnera during the fourth quarter worth about $228,000. Jain Global LLC acquired a new position in shares of Magnera during the fourth quarter worth about $588,000. Finally, Trexquant Investment LP lifted its stake in shares of Magnera by 204.6% during the fourth quarter. Trexquant Investment LP now owns 202,199 shares of the company’s stock worth $3,061,000 after purchasing an additional 135,821 shares in the last quarter. 76.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAGN shares. Wells Fargo & Company boosted their price objective on Magnera from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.50.

Magnera Stock Performance

NYSE:MAGN opened at $12.01 on Thursday. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.33 and a quick ratio of 1.55. The firm has a 50-day moving average of $10.90 and a two-hundred day moving average of $12.36. The stock has a market cap of $429.99 million, a P/E ratio of -6.13 and a beta of 1.78. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $15.52.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share 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%.

About Magnera

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.