Magnera Corporation $MAGN Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP boosted its stake in Magnera Corporation (NYSE:MAGN) by 60.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,350 shares of the company’s stock after buying an additional 79,629 shares during the period. Readystate Asset Management LP owned 0.59% of Magnera worth $2,465,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its position in Magnera by 333.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 49,644 shares of the company’s stock valued at $600,000 after purchasing an additional 38,185 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Magnera in the 2nd quarter worth about $770,000. Assenagon Asset Management S.A. increased its stake in shares of 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 during the period. Engine Capital Management LP raised its holdings in shares of Magnera by 5.3% during the second quarter. Engine Capital Management LP now owns 2,481,317 shares of the company’s stock valued at $29,974,000 after buying an additional 124,076 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Magnera by 110.0% during the second quarter. Geode Capital Management LLC now owns 783,413 shares of the company’s stock worth $9,465,000 after buying an additional 410,303 shares during the period. 76.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAGN has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Magnera from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnera in a report on Monday, December 29th. Wall Street Zen cut shares of Magnera from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Vertical Research downgraded shares of Magnera from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.50.

Magnera Price Performance

Shares of NYSE MAGN opened at $13.76 on Wednesday. Magnera Corporation has a twelve month low of $7.82 and a twelve month high of $23.18. The company has a current ratio of 2.45, a quick ratio of 1.60 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $493.98 million, a price-to-earnings ratio of -5.27 and a beta of 1.70. The firm has a 50-day moving average of $14.40 and a two-hundred day moving average of $12.38.

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.