James Investment Research Inc. Lowers Position in Magna International Inc. (MGA)

James Investment Research Inc. lowered its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 46.1% in the third quarter, HoldingsChannel reports. The firm owned 340,034 shares of the company’s stock after selling 291,320 shares during the quarter. Magna International comprises 0.7% of James Investment Research Inc.’s investment portfolio, making the stock its 23rd largest position. James Investment Research Inc.’s holdings in Magna International were worth $17,862,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MGA. BlackRock Inc. increased its holdings in shares of Magna International by 4.2% in the first quarter. BlackRock Inc. now owns 134,711 shares of the company’s stock valued at $7,591,000 after purchasing an additional 5,479 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Magna International by 27.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,415 shares of the company’s stock valued at $302,000 after purchasing an additional 1,172 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Magna International by 4.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 147,361 shares of the company’s stock valued at $8,304,000 after purchasing an additional 6,751 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Magna International by 414.2% in the first quarter. Millennium Management LLC now owns 96,724 shares of the company’s stock valued at $5,450,000 after purchasing an additional 77,913 shares in the last quarter. Finally, KAMES CAPITAL plc increased its holdings in shares of Magna International by 5.4% in the second quarter. KAMES CAPITAL plc now owns 34,094 shares of the company’s stock valued at $1,981,000 after purchasing an additional 1,760 shares in the last quarter. 59.65% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. ValuEngine lowered shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Royal Bank of Canada lowered their target price on shares of Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Citigroup lowered their target price on shares of Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Finally, TD Securities lowered their target price on shares of Magna International from $69.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.53.



Shares of NYSE MGA traded up $0.27 during midday trading on Friday, reaching $48.36. 170,461 shares of the stock were exchanged, compared to its average volume of 1,317,813. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 8.14, a P/E/G ratio of 0.83 and a beta of 1.36. Magna International Inc. has a 12 month low of $45.73 and a 12 month high of $67.47. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.07). The firm had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.45 billion. Magna International had a return on equity of 19.72% and a net margin of 5.72%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 earnings per share. On average, research analysts anticipate that Magna International Inc. will post 6.77 EPS for the current fiscal year.

Magna International Company Profile

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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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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