Seven Six Capital Management LLC Buys 93,350 Shares of Magnera Corporation $MAGN

Seven Six Capital Management LLC lifted its stake in shares of Magnera Corporation (NYSE:MAGN) by 33.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 374,868 shares of the company’s stock after buying an additional 93,350 shares during the period. Magnera comprises approximately 3.8% of Seven Six Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Seven Six Capital Management LLC owned approximately 1.05% of Magnera worth $3,565,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Brown Advisory Inc. raised its position in Magnera by 3.6% in the second quarter. Brown Advisory Inc. now owns 25,136 shares of the company’s stock valued at $304,000 after purchasing an additional 869 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Magnera by 106.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,978 shares of the company’s stock valued at $30,000 after buying an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Magnera by 2.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 62,162 shares of the company’s stock worth $751,000 after buying an additional 1,196 shares during the period. BNP Paribas Financial Markets boosted its position in Magnera by 92.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after buying an additional 1,492 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Magnera by 702.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,862 shares of the company’s stock worth $28,000 after acquiring an additional 1,630 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAGN has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Magnera from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings raised Magnera from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company upped their price target on Magnera from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $16.00.

Magnera Stock Down 1.4%

Magnera stock opened at $13.80 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $494.08 million, a PE ratio of -7.04 and a beta of 1.77. The firm’s fifty day moving average is $12.31 and its 200 day moving average is $11.99. Magnera Corporation has a 12-month low of $7.82 and a 12-month high of $15.52.

Magnera (NYSE:MAGN) last announced its quarterly earnings data 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.