Interval Partners Lp Lowers stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Interval Partners Lp reduced its stake in Magna International (USA) by 26.02% during the most recent quarter end. The investment management company now holds a total of 500,017 shares of Magna International (USA) which is valued at $20,275,689 after selling 175,836 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Magna International (USA) makes up approximately 1.63% of Interval Partners Lp’s portfolio.

Other Hedge Funds, Including , Everpoint Asset Management boosted its stake in MGA in the latest quarter, The investment management firm added 151,801 additional shares and now holds a total of 216,801 shares of Magna International (USA) which is valued at $8,791,281. Magna International (USA) makes up approx 0.23% of Everpoint Asset Management’s portfolio.Parametric Portfolio Associates reduced its stake in MGA by selling 35,542 shares or 6.15% in the most recent quarter. The Hedge Fund company now holds 542,668 shares of MGA which is valued at $22,005,187. Magna International (USA) makes up approx 0.03% of Parametric Portfolio Associates’s portfolio.Comerica Bank reduced its stake in MGA by selling 1,063 shares or 3.35% in the most recent quarter. The Hedge Fund company now holds 30,650 shares of MGA which is valued at $1,242,858. Magna International (USA) makes up approx 0.01% of Comerica Bank’s portfolio.Janney Montgomery Scott boosted its stake in MGA in the latest quarter, The investment management firm added 7,968 additional shares and now holds a total of 19,074 shares of Magna International (USA) which is valued at $761,434. Magna International (USA) makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Acadian Asset Management reduced its stake in MGA by selling 1,455,300 shares or 22.04% in the most recent quarter. The Hedge Fund company now holds 5,148,660 shares of MGA which is valued at $197,193,678. Magna International (USA) makes up approx 0.98% of Acadian Asset Management’s portfolio.

Magna International (USA) opened for trading at $41.33 and hit $41.69 on the upside on Wednesday, eventually ending the session at $41.56, with a gain of 0.61% or 0.25 points. The heightened volatility saw the trading volume jump to 1,361,606 shares. Company has a market cap of $16,487 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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