O Shaughnessy Asset Management LLC grew its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 313,568 shares of the company’s stock after buying an additional 24,400 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.09% of Magna International worth $16,324,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $116,000. Flagship Harbor Advisors LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $122,000. Glen Harbor Capital Management LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $140,000. Legacy Advisors LLC bought a new stake in shares of Magna International during the 3rd quarter worth about $131,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Magna International during the 2nd quarter worth about $163,000. Institutional investors own 60.18% of the company’s stock.
NYSE MGA opened at $49.48 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.17. Magna International Inc. has a 12 month low of $45.73 and a 12 month high of $67.47. The company has a market capitalization of $16.59 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.86 and a beta of 1.32.
Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Thursday, November 8th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Magna International had a net margin of 5.72% and a return on equity of 19.72%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts expect that Magna International Inc. will post 6.77 EPS for the current fiscal year.
MGA has been the topic of a number of recent analyst reports. CIBC upgraded shares of Magna International from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded shares of Magna International from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Barclays assumed coverage on shares of Magna International in a report on Wednesday, October 10th. They issued an “equal weight” rating on the stock. ValuEngine downgraded shares of Magna International from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, Citigroup dropped their target price on shares of Magna International from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.07.
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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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