Arkadios Wealth Advisors Makes New Investment in Magna International Inc. (NYSE:MGA)

Arkadios Wealth Advisors acquired a new position in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,269 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MGA. LRI Investments LLC acquired a new position in shares of Magna International during the first quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Magna International in the 2nd quarter valued at about $28,000. Grove Bank & Trust increased its stake in Magna International by 70.4% during the 3rd quarter. Grove Bank & Trust now owns 830 shares of the company’s stock valued at $34,000 after buying an additional 343 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Magna International by 84.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company’s stock worth $46,000 after buying an additional 513 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Magna International by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,315 shares of the company’s stock worth $72,000 after acquiring an additional 319 shares during the period. 67.49% of the stock is owned by institutional investors.

Magna International Stock Down 4.5 %

Shares of Magna International stock opened at $39.47 on Friday. Magna International Inc. has a 1 year low of $38.01 and a 1 year high of $60.32. The company has a market cap of $11.34 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.67 and a beta of 1.59. The company has a current ratio of 1.12, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $41.39 and a 200 day moving average price of $43.26.

Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.11). Magna International had a return on equity of 12.53% and a net margin of 2.29%. The company had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the company earned $1.50 earnings per share. Magna International’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts expect that Magna International Inc. will post 5.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MGA. Scotiabank dropped their target price on Magna International from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 6th. Evercore cut their price objective on Magna International from $60.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, July 15th. TD Securities lowered their target price on Magna International from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group reduced their price objective on shares of Magna International from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada dropped their target price on shares of Magna International from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Magna International presently has an average rating of “Hold” and an average price target of $49.65.

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.