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

ARGA Investment Management LP boosted its stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG by 158.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,561,491 shares of the company's stock after acquiring an additional 1,568,953 shares during the period. Magna International accounts for 3.5% of ARGA Investment Management LP's portfolio, making the stock its 13th largest position. ARGA Investment Management LP owned approximately 0.91% of Magna International worth $107,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of Magna International by 135.5% in the 2nd quarter. Millennium Management LLC now owns 162,739 shares of the company's stock valued at $6,818,000 after acquiring an additional 93,637 shares during the last quarter. SG Americas Securities LLC boosted its stake in Magna International by 11.2% in the third quarter. SG Americas Securities LLC now owns 37,628 shares of the company's stock valued at $1,544,000 after acquiring an additional 3,794 shares during the period. Tobam raised its position in shares of Magna International by 94.3% during the 3rd quarter. Tobam now owns 4,373 shares of the company's stock worth $179,000 after purchasing an additional 2,122 shares during the period. Grove Bank & Trust increased its position in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company's stock worth $34,000 after buying an additional 343 shares during the period. Finally, Forsta AP Fonden increased its holdings in shares of Magna International by 20.3% in the 3rd quarter. Forsta AP Fonden now owns 84,300 shares of the company's stock worth $3,462,000 after acquiring an additional 14,200 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.

Magna International Stock Up 0.5 %

Shares of Magna International stock traded up $0.21 on Friday, hitting $38.62. 1,894,961 shares of the company traded hands, compared to its average volume of 1,756,880. The company has a 50-day moving average price of $41.94 and a 200 day moving average price of $41.88. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International Inc. has a 12-month low of $35.05 and a 12-month high of $58.85. The company has a market cap of $10.92 billion, a PE ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.61.

Wall Street Analysts Forecast Growth

MGA has been the subject of a number of analyst reports. Royal Bank of Canada raised shares of Magna International from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $41.00 to $52.00 in a research note on Friday, January 24th. The Goldman Sachs Group lowered shares of Magna International from a "neutral" rating to a "sell" rating and reduced their target price for the company from $42.00 to $41.00 in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. StockNews.com upgraded shares of Magna International from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Scotiabank cut their price objective on shares of Magna International from $52.00 to $49.00 and set a "sector perform" rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Magna International presently has a consensus rating of "Hold" and an average price target of $50.24.

Magna International Company 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.