Magna International (USA) (MGA) : Lincluden Management Ltd scooped up 22,380 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 98,931 shares of Magna International (USA) which is valued at $4,251,065.Magna International (USA) makes up approximately 0.68% of Lincluden Management Ltd’s portfolio.
Magna International (USA) closed down -0.5 points or -1.15% at $43.04 with 21,38,618 shares getting traded on Wednesday. Post opening the session at $43.63, the shares hit an intraday low of $42.78 and an intraday high of $43.66 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Meritage Portfolio Management sold out all of its stake in MGA during the most recent quarter. The investment firm sold 110,620 shares of MGA which is valued $4,753,341.Cornerstone Investment Partners boosted its stake in MGA in the latest quarter, The investment management firm added 83,270 additional shares and now holds a total of 2,449,592 shares of Magna International (USA) which is valued at $105,258,968. Magna International (USA) makes up approx 3.34% of Cornerstone Investment Partners’s portfolio.
On the company’s financial health, Magna International (USA) reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $1.11. The company had revenue of $8568.00 million for the quarter, compared to analysts expectations of $8276.32 million. The company’s revenue was down -8.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.44 EPS.
Many Wall Street Analysts have commented on Magna International (USA). Magna International (USA) was Upgraded by Citigroup to ” Buy” on Jan 25, 2016.
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.