Rr Partners LP Has Trimmed Its Magna Intl INC (MGA) Position by $6.57 Million; Market Valuation Declined

April 26, 2018 - By Migdalia James

Magna International Inc. (NYSE:MGA) Logo

Rr Partners Lp decreased its stake in Magna Intl Inc (MGA) by 7.05% based on its latest 2017Q4 regulatory filing with the SEC. Rr Partners Lp sold 117,400 shares as the company’s stock declined 4.65% with the market. The institutional investor held 1.55 million shares of the capital goods company at the end of 2017Q4, valued at $87.70 million, down from 1.67M at the end of the previous reported quarter. Rr Partners Lp who had been investing in Magna Intl Inc for a number of months, seems to be less bullish one the $21.55 billion market cap company. The stock increased 1.31% or $0.77 during the last trading session, reaching $59.76. About 794,618 shares traded. Magna International Inc. (NYSE:MGA) has risen 26.62% since April 26, 2017 and is uptrending. It has outperformed by 15.07% the S&P500.

Rr Partners Lp, which manages about $1.50B US Long portfolio, upped its stake in Teledyne Technologies Inc (NYSE:TDY) by 36,850 shares to 224,595 shares, valued at $40.69 million in 2017Q4, according to the filing.

Analysts await Magna International Inc. (NYSE:MGA) to report earnings on May, 10. They expect $1.68 EPS, up 9.80 % or $0.15 from last year’s $1.53 per share. MGA’s profit will be $605.88 million for 8.89 P/E if the $1.68 EPS becomes a reality. After $1.57 actual EPS reported by Magna International Inc. for the previous quarter, Wall Street now forecasts 7.01 % EPS growth.

Magna International Inc. (NYSE:MGA) Ratings Coverage

Among 9 analysts covering Magna International (NYSE:MGA), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Magna International had 16 analyst reports since October 29, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, January 16 by KeyBanc Capital Markets. The firm has “Sell” rating by Morgan Stanley given on Thursday, March 22. The firm has “Buy” rating given on Wednesday, January 10 by RBC Capital Markets. The rating was downgraded by TD Securities on Friday, January 19 to “Hold”. The company was upgraded on Friday, January 12 by Wells Fargo. The firm has “Hold” rating by BMO Capital Markets given on Monday, November 6. RBC Capital Markets maintained it with “Buy” rating and $61.0 target in Sunday, October 29 report. RBC Capital Markets maintained it with “Buy” rating and $71.0 target in Thursday, February 22 report. The stock has “Buy” rating by Bank of America on Friday, March 16. RBC Capital Markets maintained Magna International Inc. (NYSE:MGA) on Wednesday, January 17 with “Buy” rating.

Magna International Inc. (NYSE:MGA) Ratings Chart

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