Flagship Harbor Advisors LLC Reduces Position in Magna International Inc. (MGA)

Flagship Harbor Advisors LLC reduced its position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 972 shares of the company’s stock after selling 234 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Magna International were worth $47,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Liberty Wealth Management LLC acquired a new position in Magna International during the 4th quarter worth approximately $32,000. Community Bank N.A. purchased a new stake in shares of Magna International in the fourth quarter worth approximately $33,000. Financial Gravity Companies Inc. purchased a new stake in shares of Magna International in the fourth quarter worth approximately $36,000. Parallel Advisors LLC raised its stake in shares of Magna International by 50.5% in the fourth quarter. Parallel Advisors LLC now owns 1,461 shares of the company’s stock worth $66,000 after purchasing an additional 490 shares during the last quarter. Finally, Legacy Advisors LLC purchased a new stake in shares of Magna International in the first quarter worth approximately $122,000. 60.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of MGA opened at $56.64 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.15 and a quick ratio of 0.82. The company has a market cap of $18.42 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. Magna International Inc. has a 12 month low of $42.88 and a 12 month high of $67.47.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings results on Friday, February 22nd. The company reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.15 billion. Magna International had a return on equity of 20.00% and a net margin of 5.62%. Magna International’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.57 earnings per share. On average, equities research analysts predict that Magna International Inc. will post 6.98 EPS for the current year.

Several analysts have recently commented on MGA shares. ValuEngine raised Magna International from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Barclays reissued a “hold” rating and issued a $50.00 price objective on shares of Magna International in a research note on Sunday, January 6th. TD Securities raised Magna International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 10th. Zacks Investment Research raised Magna International from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, January 15th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $64.00 price objective on shares of Magna International in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.09.

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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 Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Institutional Ownership by Quarter for Magna International (NYSE:MGA)

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