Regent Investment Management LLC reduced its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,450 shares of the company’s stock after selling 410 shares during the period. Regent Investment Management LLC’s holdings in Magna International were worth $384,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Aperio Group LLC raised its holdings in Magna International by 0.4% during the third quarter. Aperio Group LLC now owns 374,145 shares of the company’s stock worth $19,654,000 after purchasing an additional 1,337 shares in the last quarter. CLARET ASSET MANAGEMENT Corp raised its holdings in Magna International by 27.3% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 8,326 shares of the company’s stock worth $437,000 after purchasing an additional 1,788 shares in the last quarter. Kendall Capital Management raised its holdings in Magna International by 10.0% during the third quarter. Kendall Capital Management now owns 21,690 shares of the company’s stock worth $1,139,000 after purchasing an additional 1,980 shares in the last quarter. Marathon Asset Management LLP raised its holdings in Magna International by 0.5% during the third quarter. Marathon Asset Management LLP now owns 416,367 shares of the company’s stock worth $21,857,000 after purchasing an additional 2,259 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Magna International by 279.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,155 shares of the company’s stock worth $136,000 after purchasing an additional 2,324 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Magna International stock opened at $50.11 on Wednesday. Magna International Inc. has a 12-month low of $42.88 and a 12-month high of $67.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 0.86. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 0.85 and a beta of 1.29.
Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Thursday, November 8th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.07. Magna International had a net margin of 5.83% and a return on equity of 19.98%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.62 billion. During the same period last year, the company posted $1.36 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Magna International Inc. will post 6.72 earnings per share for the current year.
MGA has been the subject of several analyst reports. TD Securities increased their price target on shares of Magna International from $57.00 to $58.00 and gave the stock a “hold” rating in a report on Friday, November 9th. KeyCorp initiated coverage on shares of Magna International in a report on Monday, December 10th. They set a “sector weight” rating for the company. Barclays reissued a “hold” rating and set a $50.00 price target on shares of Magna International in a report on Sunday, January 6th. Zacks Investment Research raised shares of Magna International from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a report on Tuesday, January 15th. Finally, ValuEngine raised shares of Magna International from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.69.
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About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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