Curt Begle Purchases 23,786 Shares of Magnera Corp (NYSE:MAGN) Stock

Magnera Corp (NYSE:MAGN) CEO Curt Begle acquired 23,786 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $21.08 per share, with a total value of $501,408.88. Following the transaction, the chief executive officer now directly owns 24,066 shares in the company, valued at $507,311.28. The trade was a 8,495.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Magnera Stock Up 5.8 %

MAGN opened at $22.82 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.49 and a quick ratio of 1.04. Magnera Corp has a twelve month low of $15.80 and a twelve month high of $31.07. The stock has a market cap of $79.87 million, a P/E ratio of -1.24 and a beta of 1.67.

Magnera (NYSE:MAGN) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($1.69) earnings per share for the quarter. Magnera had a negative return on equity of 22.40% and a negative net margin of 6.97%. During the same quarter last year, the firm earned ($0.25) EPS.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price target on shares of Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 7th.

Institutional Trading of Magnera

Institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Magnera during the fourth quarter valued at $26,000. Vestcor Inc bought a new position in shares of Magnera during the 4th quarter valued at about $46,000. State of Alaska Department of Revenue purchased a new position in shares of Magnera during the fourth quarter worth approximately $48,000. KBC Group NV purchased a new stake in Magnera during the fourth quarter valued at about $51,000. Finally, National Bank of Canada FI bought a new position in Magnera during the 4th quarter worth approximately $52,000. Institutional investors own 76.92% of the company’s stock.

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.