Magna International (USA) (MGA) : Nexus Investment Management scooped up 880 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 26,425 shares of Magna International (USA) which is valued at $1,132,576.Magna International (USA) makes up approximately 0.21% of Nexus Investment Management’s portfolio.
Other Hedge Funds, Including , Atria Investments added MGA to its portfolio by purchasing 4,974 company shares during the most recent quarter which is valued at $213,186. Magna International (USA) makes up approx 0.02% of Atria Investments’s portfolio.Raymond James Trust N.a. boosted its stake in MGA in the latest quarter, The investment management firm added 370 additional shares and now holds a total of 74,363 shares of Magna International (USA) which is valued at $3,160,428. Magna International (USA) makes up approx 0.27% of Raymond James Trust N.a.’s portfolio.Advisory Services Network reduced its stake in MGA by selling 70 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 4,020 shares of MGA which is valued at $169,765. Magna International (USA) makes up approx 0.03% of Advisory Services Network’s portfolio. Founders Financial Securities added MGA to its portfolio by purchasing 12,179 company shares during the most recent quarter which is valued at $514,319. Magna International (USA) makes up approx 0.22% of Founders Financial Securities’s portfolio.First Mercantile Trust Co reduced its stake in MGA by selling 4,900 shares or 22.76% in the most recent quarter. The Hedge Fund company now holds 16,625 shares of MGA which is valued at $702,074. Magna International (USA) makes up approx 0.09% of First Mercantile Trust Co’s portfolio.
Magna International (USA) opened for trading at $42.4 and hit $42.95 on the upside on Tuesday, eventually ending the session at $42.86, with a gain of 0.85% or 0.36 points. The heightened volatility saw the trading volume jump to 21,51,107 shares. Company has a market cap of $17,002 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.