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

Leuthold Group LLC raised its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 1,057.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 116,279 shares of the company’s stock after buying an additional 106,237 shares during the period. Leuthold Group LLC’s holdings in Magna International were worth $5,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in Magna International by 98.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,839 shares of the company’s stock valued at $134,000 after buying an additional 1,408 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Magna International during the third quarter worth approximately $210,000. Cigna Investments Inc. New acquired a new position in shares of Magna International in the third quarter valued at approximately $218,000. RiverFront Investment Group LLC bought a new position in shares of Magna International during the second quarter worth approximately $213,000. Finally, Western Wealth Management LLC bought a new position in shares of Magna International during the second quarter worth approximately $249,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup upped their price objective on Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Magna International from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Barclays increased their price target on Magna International from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Wells Fargo & Company lifted their price objective on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Finally, UBS Group increased their target price on Magna International from $49.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.80.

Magna International Stock Performance

Magna International stock opened at $57.76 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a market cap of $16.11 billion, a PE ratio of 15.78 and a beta of 1.50. Magna International Inc. has a 12-month low of $30.39 and a 12-month high of $57.89. The business’s 50-day moving average price is $53.65 and its two-hundred day moving average price is $48.77.

Magna International Company Profile

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.