Mirae Asset Global Investments Co. Ltd. Invests $101,000 in Magnera Corp (NYSE:MAGN)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Magnera Corp (NYSE:MAGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,660 shares of the company’s stock, valued at approximately $101,000.

Separately, Ballentine Partners LLC acquired a new position in shares of Magnera during the fourth quarter worth $295,000. 76.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company increased their price objective on Magnera from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 7th.

Magnera Stock Performance

Shares of MAGN opened at $22.54 on Friday. Magnera Corp has a 1 year low of $15.80 and a 1 year high of $31.07. The stock has a market cap of $78.87 million, a PE ratio of -1.23 and a beta of 1.67. The company has a quick ratio of 1.04, a current ratio of 2.49 and a debt-to-equity ratio of 1.80.

Magnera (NYSE:MAGN) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($1.69) earnings per share (EPS) 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 company posted ($0.25) earnings per share.

Insider Activity at Magnera

In other Magnera news, CEO Curt Begle purchased 23,786 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $21.08 per share, for a total transaction of $501,408.88. Following the acquisition, the chief executive officer now owns 24,066 shares of the company’s stock, valued at approximately $507,311.28. This represents a 8,495.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.26% of the stock is owned by company insiders.

About Magnera

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.