Springhouse Capital Management Lp buys $13,971,620 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Springhouse Capital Management Lp scooped up 178,376 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 341,104 shares of Magna International (USA) which is valued at $13,971,620.Magna International (USA) makes up approximately 7.27% of Springhouse Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Russell Frank Co boosted its stake in MGA in the latest quarter, The investment management firm added 51,202 additional shares and now holds a total of 2,832,481 shares of Magna International (USA) which is valued at $119,020,852. Magna International (USA) makes up approx 0.21% of Russell Frank Co’s portfolio.Huntington National Bank boosted its stake in MGA in the latest quarter, The investment management firm added 1,370 additional shares and now holds a total of 9,456 shares of Magna International (USA) which is valued at $397,341. Magna International (USA) makes up approx 0.01% of Huntington National Bank’s portfolio.Carl Domino Inc reduced its stake in MGA by selling 7,621 shares or 18.25% in the most recent quarter. The Hedge Fund company now holds 34,140 shares of MGA which is valued at $1,466,996. Magna International (USA) makes up approx 1.32% of Carl Domino Inc’s portfolio.

Magna International (USA) opened for trading at $41.16 and hit $41.55 on the upside on Tuesday, eventually ending the session at $41.42, with a gain of 0.90% or 0.37 points. The heightened volatility saw the trading volume jump to 11,11,822 shares. Company has a market cap of $16,431 M.

On the company’s financial health, Magna International (USA) reported $1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.19. The company had revenue of $8900.00 million for the quarter, compared to analysts expectations of $8644.99 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.

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