Shares of Magna International (MGA) Sees Large Outflow of Money

Magna International (MGA) : The total money flow in Magna International (MGA) was negative ($0.65 million), which signals selling by the traders on Wednesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $0.76 million. In comparison, the inflow of money into the stock on upticks was $0.12 million. The uptick to downtick ratio was 0.15. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $0.73 million. The negative money flow of ($0.73 million) confirms the selling in Magna International (MGA) on strength. Magna International (MGA) gained $0.12 at $38.15, a gain of 0.32% over the previous days close. However, the stock registered 1.79% in the week.


Also, BMO Capital downgrades its rating on Magna International (NYSE:MGA). Analysts at the BMO Capital have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 28, 2016.

Magna International (NYSE:MGA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.07 and $37.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.30, notching a gain of 0.71% for the day. The total traded volume was 1,075,668 . The stock had closed at $38.03 on the previous day.

The stock has recorded a 20-day Moving Average of 5.81% and the 50-Day Moving Average is 0.56%.

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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