Magna International Inc. (NYSE:MGA) Short Interest Update

Magna International Inc. (NYSE:MGA) (TSE:MG) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 6,980,000 shares, a drop of 14.5% from the November 30th total of 8,160,000 shares. Based on an average trading volume of 1,540,000 shares, the short-interest ratio is presently 4.5 days. Approximately 2.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kennebec Savings Bank bought a new position in Magna International during the 3rd quarter worth approximately $32,000. Grove Bank & Trust grew its holdings in shares of Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 343 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Magna International by 84.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after buying an additional 513 shares during the period. Tobam raised its holdings in Magna International by 94.3% during the 3rd quarter. Tobam now owns 4,373 shares of the company’s stock valued at $179,000 after buying an additional 2,122 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in Magna International during the 3rd quarter valued at $216,000. 67.49% of the stock is currently owned by institutional investors.

Magna International Stock Down 0.0 %

NYSE:MGA traded down $0.02 on Tuesday, hitting $41.69. The stock had a trading volume of 415,350 shares, compared to its average volume of 1,586,754. Magna International has a 1 year low of $38.01 and a 1 year high of $59.53. The firm’s fifty day simple moving average is $43.46 and its two-hundred day simple moving average is $42.36. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. The stock has a market cap of $11.89 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.81 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.20). The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Magna International had a return on equity of 11.88% and a net margin of 2.52%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. Analysts predict that Magna International will post 5.22 earnings per share for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.475 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.56%. Magna International’s payout ratio is 50.80%.

Wall Street Analyst Weigh In

MGA has been the topic of several recent analyst reports. The Goldman Sachs Group lowered Magna International from a “neutral” rating to a “sell” rating and dropped their price target for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Morgan Stanley downgraded shares of Magna International from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $55.00 to $43.00 in a research report on Wednesday, September 25th. Scotiabank raised their price target on shares of Magna International from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Monday, November 4th. Wells Fargo & Company dropped their price objective on shares of Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.65.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.