ARGA Investment Management LP Has $107.05 Million Stock Holdings in Magna International Inc. (NYSE:MGA)

ARGA Investment Management LP boosted its stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) by 158.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,561,491 shares of the company’s stock after purchasing an additional 1,568,953 shares during the quarter. Magna International accounts for about 3.5% of ARGA Investment Management LP’s holdings, making the stock its 13th largest holding. ARGA Investment Management LP’s holdings in Magna International were worth $107,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MGA. Millennium Management LLC boosted its holdings in shares of Magna International by 135.5% during the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company’s stock worth $6,818,000 after buying an additional 93,637 shares during the period. BNP Paribas Financial Markets raised its holdings in Magna International by 117,113.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 84,394 shares of the company’s stock valued at $3,464,000 after acquiring an additional 84,322 shares during the period. Geode Capital Management LLC lifted its position in Magna International by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,151,759 shares of the company’s stock worth $46,799,000 after acquiring an additional 32,000 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Magna International during the third quarter worth approximately $1,040,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Magna International by 11.4% in the third quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock valued at $8,644,000 after purchasing an additional 21,532 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Magna International Price Performance

Magna International stock opened at $37.80 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 1.14. Magna International Inc. has a 52 week low of $35.05 and a 52 week high of $59.37. The stock has a market capitalization of $10.69 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.62 and a beta of 1.61. The stock has a fifty day moving average of $42.18 and a 200-day moving average of $41.92.

Analysts Set New Price Targets

MGA has been the subject of several research reports. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Scotiabank dropped their target price on Magna International from $52.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, January 27th. The Goldman Sachs Group downgraded shares of Magna International from a “neutral” rating to a “sell” rating and decreased their price target for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. TD Securities dropped their price objective on shares of Magna International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Finally, UBS Group increased their target price on shares of Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.24.

Magna International Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.