Burney Co. cut its position in Magna International, Inc. (NYSE:MGA) (TSE:MG) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,250 shares of the company’s stock after selling 2,605 shares during the period. Burney Co.’s holdings in Magna International were worth $401,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MGA. Johnson Investment Counsel Inc. acquired a new position in Magna International during the third quarter valued at approximately $204,000. FTB Advisors Inc. increased its position in Magna International by 7.4% in the third quarter. FTB Advisors Inc. now owns 5,709 shares of the company’s stock valued at $243,000 after buying an additional 394 shares during the last quarter. Matarin Capital Management LLC acquired a new position in Magna International during the third quarter valued at approximately $276,000. Manitou Investment Management Ltd. acquired a new position in Magna International during the second quarter valued at approximately $302,000. Finally, Camelot Portfolios LLC acquired a new position in Magna International during the third quarter valued at approximately $659,000. 59.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of Magna International, Inc. (NYSE:MGA) traded up 0.56% on Monday, reaching $44.66. 1,086,958 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $43.76 and its 200 day moving average price is $41.77. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 8.77 and a beta of 1.48. Magna International, Inc. has a 12 month low of $31.84 and a 12 month high of $47.21.
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MGA has been the topic of several analyst reports. Bank of America Corporation downgraded shares of Magna International from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $54.00 to $36.00 in a research report on Wednesday, November 9th. Zacks Investment Research downgraded shares of Magna International from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Macquarie downgraded Magna International from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 9th. Royal Bank Of Canada raised their price target on Magna International from $55.00 to $56.00 and gave the company an “outperform” rating in a research report on Friday, January 6th. Finally, TD Securities reaffirmed a “buy” rating and issued a $47.00 price target on shares of Magna International in a research report on Saturday, October 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.
Magna International Company Profile
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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