Entropy Technologies LP Takes Position in Magna International Inc. (NYSE:MGA)

Entropy Technologies LP purchased a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,116 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGA. Forsta AP Fonden lifted its holdings in shares of Magna International by 20.3% during the 3rd quarter. Forsta AP Fonden now owns 84,300 shares of the company’s stock valued at $3,462,000 after buying an additional 14,200 shares during the period. Arkadios Wealth Advisors bought a new position in Magna International in the 3rd quarter worth $216,000. Janney Montgomery Scott LLC raised its holdings in Magna International by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 210,632 shares of the company’s stock worth $8,644,000 after purchasing an additional 21,532 shares during the period. Van ECK Associates Corp raised its holdings in Magna International by 6.6% in the 3rd quarter. Van ECK Associates Corp now owns 12,290 shares of the company’s stock worth $517,000 after purchasing an additional 766 shares during the period. Finally, Kennebec Savings Bank bought a new position in Magna International in the 3rd quarter worth $32,000. 67.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MGA has been the topic of a number of recent research reports. Royal Bank of Canada raised Magna International from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $41.00 to $52.00 in a report on Friday, January 24th. StockNews.com raised Magna International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wolfe Research raised Magna International from an “underperform” rating to a “peer perform” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their target price on Magna International from $46.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. Finally, UBS Group raised their target price on Magna International from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.24.

Magna International Trading Up 1.5 %

Shares of Magna International stock opened at $39.64 on Friday. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.60 and a beta of 1.61. The business has a 50-day moving average price of $41.42 and a 200-day moving average price of $41.74. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Magna International Inc. has a twelve month low of $35.05 and a twelve month high of $56.12.

Magna International 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.