Sentry Investments Corp. buys $126.6 Million stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Sentry Investments Corp. scooped up 231,800 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 13, 2016. The investment management firm now holds a total of 3,164,800 shares of Magna International (USA) which is valued at $126.6 Million.Magna International (USA) makes up approximately 1.83% of Sentry Investments Corp.’s portfolio.

Other Hedge Funds, Including , Foresters Investment Management Company boosted its stake in MGA in the latest quarter, The investment management firm added 150,600 additional shares and now holds a total of 382,800 shares of Magna International (USA) which is valued at $15.3 Million. Magna International (USA) makes up approx 0.32% of Foresters Investment Management Company’s portfolio.Scotia Capital boosted its stake in MGA in the latest quarter, The investment management firm added 4,335 additional shares and now holds a total of 876,329 shares of Magna International (USA) which is valued at $35.1 Million. Magna International (USA) makes up approx 0.84% of Scotia Capital’s portfolio. Qci Asset Management Incny added MGA to its portfolio by purchasing 700 company shares during the most recent quarter which is valued at $28,000. Pacad Investment Ltd. sold out all of its stake in MGA during the most recent quarter. The investment firm sold 24,915 shares of MGA which is valued $1 Million.Point View Wealth Management reduced its stake in MGA by selling 112 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 5,691 shares of MGA which is valued at $233,103. Magna International (USA) makes up approx 0.15% of Point View Wealth Management’s portfolio.

Magna International (USA) opened for trading at $39.77 and hit $40.54 on the upside on Wednesday, eventually ending the session at $40.3, with a gain of 2.00% or 0.79 points. The heightened volatility saw the trading volume jump to 15,75,621 shares. Company has a market cap of $15,987 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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