Magna International Inc. (NYSE:MGA) Sees Large Growth in Short Interest

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG was the recipient of a large increase in short interest during the month of 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. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is currently 5.7 days.

Analyst Upgrades and Downgrades

MGA has been the subject of several recent analyst reports. Scotiabank decreased their target price on shares of Magna International from $49.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 18th. Wolfe Research upgraded shares of Magna International from an "underperform" rating to a "peer perform" rating in a report on Thursday, December 5th. Evercore ISI decreased their price objective on shares of Magna International from $50.00 to $45.00 and set an "in-line" rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group cut shares of Magna International from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $42.00 to $41.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Magna International currently has a consensus rating of "Hold" and a consensus price target of $48.71.

Magna International Trading Down 2.9 %

Shares of NYSE:MGA traded down $1.05 during mid-day trading on Monday, hitting $35.38. The stock had a trading volume of 1,250,748 shares, compared to its average volume of 1,760,983. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The company has a market cap of $9.98 billion, a PE ratio of 10.06, a P/E/G ratio of 0.63 and a beta of 1.61. Magna International has a 12-month low of $35.05 and a 12-month high of $56.12. The company's 50 day moving average is $39.96 and its 200-day moving average is $41.54.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings results on Friday, February 14th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The business 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%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, sell-side analysts predict that Magna International will post 5.87 EPS for the current year.

Magna International Increases Dividend

The company also recently declared 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 represents a $1.94 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Friday, February 28th. This is an increase from Magna International's previous quarterly dividend of $0.48. Magna International's dividend payout ratio is 55.27%.

Institutional Investors Weigh In On Magna International

Several hedge funds have recently made changes to their positions in MGA. Avior Wealth Management LLC lifted its position in shares of Magna International by 2,400.0% in the 4th quarter. Avior Wealth Management LLC now owns 625 shares of the company's stock valued at $26,000 after acquiring an additional 600 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Magna International in the 3rd quarter worth approximately $32,000. LRI Investments LLC lifted its position in Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock worth $32,000 after buying an additional 723 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC lifted its position in Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after buying an additional 312 shares in the last quarter. Hedge funds and other institutional investors 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.