Marathon Asset Management LLP increased its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 416,367 shares of the company’s stock after purchasing an additional 2,259 shares during the quarter. Marathon Asset Management LLP owned about 0.12% of Magna International worth $21,857,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Meadow Creek Investment Management LLC acquired a new stake in Magna International in the 2nd quarter valued at about $116,000. Flagship Harbor Advisors LLC acquired a new stake in Magna International in the 2nd quarter valued at about $122,000. Glen Harbor Capital Management LLC acquired a new stake in Magna International in the 2nd quarter valued at about $140,000. Legacy Advisors LLC acquired a new stake in Magna International in the 3rd quarter valued at about $131,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Magna International in the 2nd quarter valued at about $163,000. 60.18% of the stock is owned by institutional investors and hedge funds.
NYSE MGA opened at $49.02 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.88 and a beta of 1.32. Magna International Inc. has a 1 year low of $45.73 and a 1 year high of $67.47.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.07). The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.45 billion. Magna International had a return on equity of 19.72% and a net margin of 5.72%. Magna International’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. On average, sell-side analysts expect that Magna International Inc. will post 6.77 earnings per share for the current year.
A number of equities research analysts have weighed in on the stock. Royal Bank of Canada cut their price target on shares of Magna International from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. Wolfe Research assumed coverage on shares of Magna International in a report on Tuesday, October 2nd. They issued an “outperform” rating for the company. Morgan Stanley cut their price target on shares of Magna International from $53.00 to $48.00 and set a “sell” rating for the company in a report on Monday, August 13th. Citigroup cut their price target on shares of Magna International from $77.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Magna International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. Magna International presently has a consensus rating of “Buy” and a consensus target price of $67.67.
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Magna International Profile
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.
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