JB Capital Partners LP Acquires 345,000 Shares of Magnera Corporation $MAGN

JB Capital Partners LP increased its holdings in Magnera Corporation (NYSE:MAGN) by 202.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 515,000 shares of the company’s stock after purchasing an additional 345,000 shares during the period. Magnera accounts for approximately 1.3% of JB Capital Partners LP’s investment portfolio, making the stock its 14th biggest holding. JB Capital Partners LP’s holdings in Magnera were worth $7,797,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of Magnera by 702.6% during the fourth 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. BNP Paribas Financial Markets raised its position in shares of Magnera by 92.7% during the second quarter. BNP Paribas Financial Markets now owns 3,102 shares of the company’s stock worth $37,000 after acquiring an additional 1,492 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Magnera by 13,014.3% during the fourth quarter. GAMMA Investing LLC now owns 3,672 shares of the company’s stock worth $56,000 after acquiring an additional 3,644 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Magnera during the third quarter worth about $99,000. Finally, New York State Common Retirement Fund bought a new position in shares of Magnera during the second quarter worth about $127,000. 76.92% of the stock is currently owned by institutional investors.

Magnera Trading Up 2.9%

Shares of MAGN stock opened at $12.63 on Friday. The company has a market cap of $452.15 million, a P/E ratio of -6.44 and a beta of 1.78. The stock has a 50 day simple moving average of $10.71 and a two-hundred day simple moving average of $12.40. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.55 and a current ratio of 2.33. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $15.52.

Magnera (NYSE:MAGN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) EPS for the quarter. Magnera had a negative net margin of 3.37% and a negative return on equity of 10.30%. The firm had revenue of $796.00 million during the quarter.

Analyst Upgrades and Downgrades

MAGN has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Magnera from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Magnera presently has an average rating of “Reduce” and an average price target of $14.50.

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.