Littlejohn & Co. LLC Buys New Shares in Magnera Corp (NYSE:MAGN)

Littlejohn & Co. LLC purchased a new position in shares of Magnera Corp (NYSE:MAGN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,408,406 shares of the company’s stock, valued at approximately $25,591,000. Magnera makes up about 12.9% of Littlejohn & Co. LLC’s holdings, making the stock its 4th biggest position. Littlejohn & Co. LLC owned approximately 40.24% of Magnera at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MAGN. Wilmington Savings Fund Society FSB bought a new stake in Magnera during the fourth quarter worth $26,000. Vestcor Inc bought a new position in Magnera during the fourth quarter worth about $46,000. State of Alaska Department of Revenue bought a new position in Magnera during the fourth quarter worth about $48,000. KBC Group NV acquired a new position in Magnera during the fourth quarter worth approximately $51,000. Finally, National Bank of Canada FI bought a new stake in Magnera in the fourth quarter valued at approximately $52,000. 76.92% of the stock is currently owned by institutional investors and hedge funds.

Magnera Price Performance

Shares of NYSE MAGN opened at $14.19 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.52 and a debt-to-equity ratio of 1.80. The firm has a market cap of $502.33 million, a price-to-earnings ratio of -0.77 and a beta of 1.76. The firm has a fifty day moving average price of $16.52. Magnera Corp has a one year low of $12.20 and a one year high of $26.78.

Magnera (NYSE:MAGN) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of $0.20 by ($1.35). Magnera had a negative net margin of 6.97% and a negative return on equity of 10.62%. The business had revenue of $824.00 million during the quarter. The business’s quarterly revenue was up 47.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Magnera from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Vertical Research began coverage on shares of Magnera in a research report on Wednesday, March 19th. They set a “hold” rating and a $21.00 price objective for the company.

Insider Activity

In related news, CEO Curt Begle purchased 23,786 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $21.08 per share, for a total transaction of $501,408.88. Following the completion of the transaction, the chief executive officer now owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This trade represents a 8,495.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carl J. Rickertsen acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $20.33 per share, with a total value of $406,600.00. Following the transaction, the director now directly owns 21,306 shares of the company’s stock, valued at $433,150.98. This trade represents a 1,531.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 64,061 shares of company stock worth $1,192,062. Corporate insiders own 2.26% of the company’s stock.

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.