Positives for Magna International Inc (MGA) as stock gains in recent trading

Magna International Inc (NYSE: MGA) is -28.96% lower on its value in year-to-date trading and has touched a low of $38.01 and a high of $60.32 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MGA stock was last observed hovering at around $39.47 in the last trading session, with the day’s gains setting it 2.5%.

Currently trading at $41.97, the stock is 0.83% and 1.49% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.87 million and changing 6.33% at the moment leaves the stock -9.83% off its SMA200. MGA registered -13.00% loss for a year compared to 6-month loss of -10.13%. The firm has a 50-day simple moving average (SMA 50) of $41.3534 and a 200-day simple moving average (SMA200) of $46.54295.

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The stock witnessed a 3.96% gain in the last 1 month and extending the period to 3 months gives it a 7.45%, and is -0.02% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.23% over the week and 2.39% over the month.

Magna International Inc (MGA) has around 179000 employees, a market worth around $17.89B and $42.66B in sales. Current P/E ratio is 11.19 and Fwd P/E is 6.99. Profit margin for the company is 2.52%. Distance from 52-week low is 10.42% and -30.42% from its 52-week high. The company has generated returns on investments over the last 12 months (5.78%).

The EPS is expected to shrink by -3.11% this year.

Magna International Inc (MGA) Top Institutional Holders

645.0 institutions hold shares in Magna International Inc (MGA), with institutional investors hold 80.34% of the company’s shares. The shares outstanding are 286.55M, and float is at 268.36M with Short Float at 2.88%. Institutions hold 75.38% of the Float.

The top institutional shareholder in the company is PZENA INVESTMENT MANAGEMENT LLC with over 20.96 million shares valued at $1.2 billion. The investor’s holdings represent 7.3053% of the MGA Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 12.62 million shares valued at $528.67 million to account for 4.3979 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 10.81 million shares representing 3.7676% and valued at over $452.91 million, while HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC holds 3.418 of the shares totaling 9.81 million with a market value of $410.88 million.