Ipg Investment Advisors buys $5,576,031 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Ipg Investment Advisors scooped up 40,530 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 137,510 shares of Magna International (USA) which is valued at $5,576,031.Magna International (USA) makes up approximately 2.22% of Ipg Investment Advisors’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A boosted its stake in MGA in the latest quarter, The investment management firm added 48,833 additional shares and now holds a total of 802,184 shares of Magna International (USA) which is valued at $32,528,561. Magna International (USA) makes up approx 0.12% of Credit Agricole S A’s portfolio.Oakmont Corp reduced its stake in MGA by selling 468,850 shares or 50.47% in the most recent quarter. The Hedge Fund company now holds 460,100 shares of MGA which is valued at $18,500,621. Magna International (USA) makes up approx 3.38% of Oakmont Corp’s portfolio.Mu Investments Ltd. reduced its stake in MGA by selling 1,700 shares or 44.16% in the most recent quarter. The Hedge Fund company now holds 2,150 shares of MGA which is valued at $84,753. Magna International (USA) makes up approx 0.05% of Mu Investments Ltd.’s portfolio.Wealthtrust-arizona boosted its stake in MGA in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 1,325 shares of Magna International (USA) which is valued at $51,529. Magna International (USA) makes up approx 0.03% of Wealthtrust-arizona’s portfolio.Advocacy Wealth Management Services reduced its stake in MGA by selling 37 shares or 6.21% in the most recent quarter. The Hedge Fund company now holds 559 shares of MGA which is valued at $21,298. Magna International (USA) makes up approx 0.01% of Advocacy Wealth Management Services’s portfolio.

Magna International (USA) opened for trading at $40.1 and hit $40.575 on the upside on Friday, eventually ending the session at $40.5, with a gain of 0.27% or 0.11 points. The heightened volatility saw the trading volume jump to 9,35,503 shares. Company has a market cap of $16,066 M.

On the company’s financial health, Magna International (USA) reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $1.34. The company had revenue of $9443.00 million for the quarter, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Many Wall Street Analysts have commented on Magna International (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .

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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