Leuthold Group LLC Purchases 106,237 Shares of Magna International Inc. $MGA

Leuthold Group LLC grew its position in Magna International Inc. (NYSE:MGA) (TSE:MG) by 1,057.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,279 shares of the company’s stock after purchasing an additional 106,237 shares during the period. Leuthold Group LLC’s holdings in Magna International were worth $5,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ARGA Investment Management LP raised its stake in Magna International by 33.2% during the 3rd quarter. ARGA Investment Management LP now owns 4,148,133 shares of the company’s stock worth $196,557,000 after buying an additional 1,033,747 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Magna International by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company’s stock valued at $77,332,000 after purchasing an additional 338,470 shares in the last quarter. AGF Management Ltd. bought a new stake in Magna International during the 3rd quarter worth approximately $14,191,000. Mediolanum International Funds Ltd bought a new stake in Magna International during the 2nd quarter worth approximately $4,618,000. Finally, Meritage Portfolio Management bought a new position in Magna International in the third quarter valued at approximately $3,551,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Magna International Trading Up 2.7%

Shares of NYSE:MGA opened at $57.76 on Thursday. Magna International Inc. has a 52-week low of $30.39 and a 52-week high of $57.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.18. The company has a market capitalization of $16.11 billion, a P/E ratio of 15.78 and a beta of 1.50. The company has a 50-day simple moving average of $53.65 and a 200 day simple moving average of $48.77.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGA shares. Canadian Imperial Bank of Commerce raised their price objective on shares of Magna International from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Wall Street Zen raised Magna International from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 19th. Barclays lifted their target price on Magna International from $52.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their price target on Magna International from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Morgan Stanley raised their price target on shares of Magna International from $38.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, December 8th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.80.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.