Magnera Corporation $MAGN is Littlejohn & Co. LLC’s Largest Position

Littlejohn & Co. LLC lessened its holdings in shares of Magnera Corporation (NYSE:MAGN) by 6.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,425,818 shares of the company’s stock after selling 168,069 shares during the quarter. Magnera accounts for about 21.8% of Littlejohn & Co. LLC’s investment portfolio, making the stock its largest holding. Littlejohn & Co. LLC owned approximately 0.07% of Magnera worth $23,070,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. State of Wyoming purchased a new stake in Magnera during the first quarter worth approximately $144,000. Dimensional Fund Advisors LP raised its stake in shares of Magnera by 107.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 253,908 shares of the company’s stock valued at $2,415,000 after acquiring an additional 131,772 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Magnera by 38.2% in the 1st quarter. Bank of New York Mellon Corp now owns 121,035 shares of the company’s stock valued at $1,151,000 after acquiring an additional 33,435 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Magnera in the 1st quarter valued at $146,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Magnera by 178.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 78,572 shares of the company’s stock valued at $747,000 after acquiring an additional 50,393 shares in the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Magnera from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Wells Fargo & Company raised their price objective 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 research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Magnera presently has a consensus rating of “Reduce” and a consensus target price of $16.00.

Magnera Stock Down 2.6%

NYSE MAGN opened at $13.24 on Friday. The stock has a market cap of $474.17 million, a PE ratio of -6.76 and a beta of 1.77. Magnera Corporation has a fifty-two week low of $7.82 and a fifty-two week high of $15.52. The business has a 50 day moving average price of $12.03 and a two-hundred day moving average price of $12.01. The company has a quick ratio of 1.55, a current ratio of 2.33 and a debt-to-equity ratio of 1.83.

Magnera (NYSE:MAGN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.50) earnings per share (EPS) for the quarter. The firm had revenue of $796.00 million during 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.