Magna International Inc. (NYSE:MGA) Short Interest Up 57.4% in February

Magna International Inc. (NYSE:MGA) (TSE:MG) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 9,460,000 shares, an increase of 57.4% from the January 31st total of 6,010,000 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is currently 5.7 days.

Magna International Trading Down 3.0 %

MGA traded down $1.08 during midday trading on Monday, hitting $35.35. The company’s stock had a trading volume of 1,749,880 shares, compared to its average volume of 1,779,505. Magna International has a 52-week low of $35.05 and a 52-week high of $56.12. The firm has a 50-day moving average price of $39.96 and a two-hundred day moving average price of $41.54. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market cap of $9.97 billion, a P/E ratio of 10.07, a PEG ratio of 0.63 and a beta of 1.61.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, February 14th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The firm had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.32 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. On average, research analysts anticipate that Magna International will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.485 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Friday, February 28th. Magna International’s dividend payout ratio (DPR) is 55.27%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MGA shares. Royal Bank of Canada decreased their price objective on shares of Magna International from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Evercore ISI reduced their price target on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley dropped their price objective on shares of Magna International from $43.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday. Scotiabank reduced their target price on Magna International from $49.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. Finally, TD Securities dropped their price target on Magna International from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. increased its stake in Magna International by 3.6% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after acquiring an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Magna International by 37.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,111 shares of the company’s stock worth $46,000 after purchasing an additional 301 shares in the last quarter. Lindbrook Capital LLC increased its position in Magna International by 43.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Magna International by 2,400.0% in the fourth quarter. Avior Wealth Management LLC now owns 625 shares of the company’s stock valued at $26,000 after buying an additional 600 shares during the period. Finally, LRI Investments LLC lifted its position in Magna International by 2,126.5% during the fourth quarter. LRI Investments LLC now owns 757 shares of the company’s stock valued at $32,000 after buying an additional 723 shares in the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

About Magna International

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.