170,000 Shares in Magnera Corporation $MAGN Bought by JB Capital Partners LP

JB Capital Partners LP purchased a new position in shares of Magnera Corporation (NYSE:MAGN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 170,000 shares of the company’s stock, valued at approximately $1,992,000. JB Capital Partners LP owned 0.48% of Magnera at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Magnera by 92.7% in the 2nd 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. Ameritas Investment Partners Inc. purchased a new stake in shares of Magnera during the second quarter worth approximately $41,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Magnera in the second quarter valued at approximately $92,000. Aquatic Capital Management LLC purchased a new position in Magnera in the third quarter worth approximately $99,000. Finally, Valeo Financial Advisors LLC purchased a new position in Magnera in the second quarter worth approximately $121,000. Institutional investors and hedge funds own 76.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MAGN. Weiss Ratings reissued a “sell (d-)” rating on shares of Magnera in a research report on Monday, December 29th. Wells Fargo & Company lifted their price objective on shares of Magnera from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Vertical Research lowered Magnera from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating, one has assigned 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 an average target price of $17.50.

Magnera Stock Performance

Shares of MAGN opened at $10.93 on Monday. The stock has a 50 day moving average price of $13.55 and a 200 day moving average price of $12.34. The company has a quick ratio of 1.60, a current ratio of 2.45 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $392.49 million, a price-to-earnings ratio of -4.19 and a beta of 1.69. Magnera Corporation has a 52-week low of $7.82 and a 52-week high of $19.77.

Magnera (NYSE:MAGN) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.34) earnings per share for the quarter. The company had revenue of $792.00 million for the quarter. Magnera had a negative return on equity of 12.30% and a negative net margin of 4.04%.

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.