Wright Investors Service Lowered Its Magna Intl (MGA) Holding, Latin American Discovery Fund Has 1.8 Sentiment

June 16, 2017 - By Kurt Siggers

Wright Investors Service Inc decreased Magna Intl Inc (MGA) stake by 48.13% reported in 2016Q4 SEC filing. Wright Investors Service Inc sold 24,945 shares as Magna Intl Inc (MGA)’s stock declined 0.57%. The Wright Investors Service Inc holds 26,885 shares with $1.17M value, down from 51,830 last quarter. Magna Intl Inc now has $17.15 billion valuation. The stock decreased 0.31% or $0.14 on June 15, reaching $45.21. About shares traded. Magna International Inc. (USA) (NYSE:MGA) has risen 15.97% since June 16, 2016 and is uptrending. It has underperformed by 0.73% the S&P500.

The Latin American Discovery Fund, Inc. is a non-diversified, closed-end management investment company. The company has market cap of $70.02 million. The Fund’s investment objective is long-term capital appreciation through investments primarily in equity securities of Latin American issuers and by investing from time to time in debt securities issued or guaranteed by a Latin American Government or Governmental entity. It currently has negative earnings. The Fund’s portfolio of investments include banks, multi-line retail, construction materials, beverages, oil, gas and consumable fuels and other.

Wright Investors Service Inc increased Bank Amer Corp (NYSE:BAC) stake by 28,475 shares to 57,510 valued at $1.27M in 2016Q4. It also upped Jpmorgan Chase & Co (NYSE:JPM) stake by 17,187 shares and now owns 44,025 shares. Apple Inc (NASDAQ:AAPL) was raised too.

Among 11 analysts covering Magna International (NYSE:MGA), 8 have Buy rating, 1 Sell and 2 Hold. Therefore 73% are positive. Magna International had 25 analyst reports since August 6, 2015 according to SRatingsIntel. As per Wednesday, November 9, the company rating was downgraded by Bank of America. RBC Capital Markets maintained it with “Outperform” rating and $64 target in Friday, November 6 report. Macquarie Research downgraded Magna International Inc. (USA) (NYSE:MGA) on Wednesday, November 9 to “Neutral” rating. RBC Capital Markets maintained the shares of MGA in report on Thursday, January 14 with “Outperform” rating. As per Friday, January 13, the company rating was downgraded by TD Securities. Zacks downgraded the shares of MGA in report on Thursday, August 6 to “Hold” rating. The stock of Magna International Inc. (USA) (NYSE:MGA) has “Overweight” rating given on Friday, November 6 by JP Morgan. The stock has “Outperform” rating by Macquarie Research on Monday, February 27. The rating was upgraded by TD Securities to “Buy” on Friday, May 12. Deutsche Bank maintained the shares of MGA in report on Friday, August 14 with “Buy” rating.