Magna International Inc (MGA) Is Now En Route to Higher Prices

Magna International Inc (NYSE: MGA) is -22.46% 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 $45.29 in the last trading session, with the day’s gains setting it 0.52%.

Currently trading at $45.81, the stock is 2.57% and 6.84% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.54 million and changing 1.15% at the moment leaves the stock 1.59% off its SMA200. MGA registered -16.33% loss for a year compared to 6-month loss of 4.88%. The firm has a 50-day simple moving average (SMA 50) of $42.8162 and a 200-day simple moving average (SMA200) of $45.1372.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The stock witnessed a 6.14% gain in the last 1 month and extending the period to 3 months gives it a 18.49%, and is 1.17% up 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 2.83% over the week and 2.43% over the month.

Magna International Inc (MGA) has around 179000 employees, a market worth around $13.16B and $42.66B in sales. Current P/E ratio is 12.21 and Fwd P/E is 7.67. Profit margin for the company is 2.52%. Distance from 52-week low is 20.52% and -24.06% 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 -4.40% this year.

Magna International Inc (MGA) Top Institutional Holders

646.0 institutions hold shares in Magna International Inc (MGA), with institutional investors hold 81.91% of the company’s shares. The shares outstanding are 287.34M, and float is at 268.38M with Short Float at 2.88%. Institutions hold 76.85% 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.