Wright Investors Service Inc Lowers stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Wright Investors Service Inc reduced its stake in Magna International (USA) by 1.06% during the most recent quarter end. The investment management company now holds a total of 89,050 shares of Magna International (USA) which is valued at $3,741,881 after selling 950 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Magna International (USA) makes up approximately 1.48% of Wright Investors Service Inc’s portfolio.

Magna International (USA) opened for trading at $42.35 and hit $42.39 on the upside on Monday, eventually ending the session at $42.09, with a gain of 0.17% or 0.07 points. The heightened volatility saw the trading volume jump to 9,64,792 shares. Company has a market cap of $16,931 M.

Other Hedge Funds, Including , James Investment Research Inc reduced its stake in MGA by selling 5,785 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 1,438,790 shares of MGA which is valued at $60,457,956. Magna International (USA) makes up approx 1.49% of James Investment Research Inc’s portfolio.Montrusco Bolton Investments boosted its stake in MGA in the latest quarter, The investment management firm added 187,711 additional shares and now holds a total of 756,541 shares of Magna International (USA) which is valued at $32,508,567. Magna International (USA) makes up approx 2.55% of Montrusco Bolton Investments’s portfolio.Sigma Planning Corp reduced its stake in MGA by selling 1,902 shares or 28.69% in the most recent quarter. The Hedge Fund company now holds 4,727 shares of MGA which is valued at $203,119. Magna International (USA) makes up approx 0.03% of Sigma Planning Corp’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.

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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