Magna International Inc. (NYSE:MGA) Short Interest Up 67.3% in February

Magna International Inc. (NYSE:MGA) (TSE:MG) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 15,830,000 shares, a growth of 67.3% from the February 13th total of 9,460,000 shares. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 9.1 days. Currently, 6.0% of the company’s stock are sold short.

Magna International Stock Performance

Magna International stock traded up $0.97 on Friday, hitting $36.45. The company’s stock had a trading volume of 1,677,639 shares, compared to its average volume of 1,683,280. The firm has a market cap of $10.27 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.65. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $38.98 and a 200-day moving average price of $41.24. Magna International has a one year low of $33.30 and a one year high of $56.12.

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

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48. Magna International’s payout ratio is 55.27%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGA. Evercore ISI reduced their target price on shares of Magna International from $50.00 to $45.00 and set an “in-line” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group cut shares of Magna International from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $42.00 to $41.00 in a research note on Wednesday, December 11th. Scotiabank reduced their price objective on shares of Magna International from $49.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. CIBC reduced their price objective on shares of Magna International from $44.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group reduced their price objective on shares of Magna International from $44.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Magna International presently has a consensus rating of “Hold” and an average target price of $47.03.

Institutional Investors Weigh In On Magna International

Several large investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. grew its holdings in shares of Magna International by 3.6% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,856 shares of the company’s stock worth $328,000 after purchasing an additional 276 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Magna International by 37.2% in 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 during the last quarter. Lindbrook Capital LLC grew its holdings in shares of 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 purchasing an additional 312 shares during the last quarter. Avior Wealth Management LLC grew its holdings 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 worth $26,000 after purchasing an additional 600 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in shares of 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 purchasing an additional 723 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

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.