Venator Capital Management Ltd. buys $5,535,664 stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Venator Capital Management Ltd. scooped up 32,980 additional shares in Magna International (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 143,597 shares of Magna International (USA) which is valued at $5,535,664.Magna International (USA) makes up approximately 5.25% of Venator Capital Management Ltd.’s portfolio.

Other Hedge Funds, Including , Northwestern Mutual Wealth Management Co boosted its stake in MGA in the latest quarter, The investment management firm added 133 additional shares and now holds a total of 1,086 shares of Magna International (USA) which is valued at $41,865. Checchi Capital Advisers sold out all of its stake in MGA during the most recent quarter. The investment firm sold 1,289 shares of MGA which is valued $50,026.K.j. Harrison Partners Inc boosted its stake in MGA in the latest quarter, The investment management firm added 32 additional shares and now holds a total of 7,425 shares of Magna International (USA) which is valued at $305,836. Magna International (USA) makes up approx 0.16% of K.j. Harrison Partners Inc’s portfolio. Greystone Managed Investments sold out all of its stake in MGA during the most recent quarter. The investment firm sold 1,034,086 shares of MGA which is valued $41,942,528.

Magna International (USA) opened for trading at $40.4 and hit $40.83 on the upside on Monday, eventually ending the session at $40.61, with a gain of 0.45% or 0.18 points. The heightened volatility saw the trading volume jump to 16,63,692 shares. Company has a market cap of $15,611 M.

On the company’s financial health, Magna International (USA) reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $1.20. The company had revenue of $8849.00 million for the quarter, compared to analysts expectations of $8571.45 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS.

Many Wall Street Analysts have commented on Magna International (USA). Magna International (USA) was Downgraded by BofA/Merrill to ” Underperform” on Nov 9, 2016. Magna International (USA) was Downgraded by Macquarie to ” Neutral” on Nov 9, 2016.

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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