Y Intercept Hong Kong Ltd Has $207,000 Position in Magnera Corporation $MAGN

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Magnera Corporation (NYSE:MAGN) by 72.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,622 shares of the company’s stock after selling 46,147 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Magnera were worth $207,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Engine Capital Management LP increased its position in shares of Magnera by 5.3% in the second quarter. Engine Capital Management LP now owns 2,481,317 shares of the company’s stock valued at $29,974,000 after acquiring an additional 124,076 shares during the last quarter. Scopia Capital Management LP grew its stake in Magnera by 46.7% in the second quarter. Scopia Capital Management LP now owns 1,010,794 shares of the company’s stock valued at $12,210,000 after purchasing an additional 321,579 shares in the last quarter. Geode Capital Management LLC grew its stake in Magnera by 110.0% in the second quarter. Geode Capital Management LLC now owns 783,413 shares of the company’s stock valued at $9,465,000 after purchasing an additional 410,303 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Magnera by 118.1% in the third quarter. Assenagon Asset Management S.A. now owns 753,906 shares of the company’s stock valued at $8,836,000 after purchasing an additional 408,181 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Magnera by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 431,069 shares of the company’s stock worth $5,207,000 after purchasing an additional 89,347 shares during the last quarter. Institutional investors own 76.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Vertical Research downgraded Magnera from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Wednesday, January 7th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Magnera in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Magnera in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Magnera from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.00.

Magnera Stock Up 5.3%

MAGN opened at $14.96 on Friday. The stock’s fifty day simple moving average is $14.38 and its 200 day simple moving average is $12.32. Magnera Corporation has a 1-year low of $7.82 and a 1-year high of $23.19. The stock has a market cap of $536.14 million, a PE ratio of -1.96 and a beta of 1.70. The company has a current ratio of 2.37, a quick ratio of 1.58 and a debt-to-equity ratio of 1.83.

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.