Pzena Investment Management Reduces $252M in Magna International Inc. ($MGA)
Key Points
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Pzena Investment Management reduced its position in Magna International Inc. ($MGA) by 13% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,329,355 shares of Magna International Inc. after selling 3,784,227 shares during the quarter. Pzena Investment Management's holdings in Magna International Inc. were worth $1.69 billion as of its most recent filing.
Magna International Inc. Stock Up 1.1%
Shares of Magna International Inc. ($MGA) traded around $66.57 on Saturday, up 1.1% for the day.
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Analysts Set New Price Targets
About Magna International Inc.
Magna International Inc. operates as an automotive supplier in North America, Europe, the Asia Pacific, and internationally. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. The company offers design and vehicle concepts, complete vehicle engineering and integration, human-machine interface, developing modules and systems, platform solutions, prototyping and low-volume manufacturing, vehicle safety testing, aerospace, and integrating functionality, features, and ADAS; and complete vehicle solutions, body-in-white, paint, and assembly complete vehicle manufacturing products. It also provides engineering services for commercial vehicles, such as propulsion engineering, software and simulation, testing services, and smart production; OPTiForm, a battery enclosure, steel battery enclosures, aluminum battery enclosures, and hybrid battery enclosures; battery enclosure production and engineering solutions; SmartAccess, a B-Pillarless power door system; and composite EV battery covers. In addition, it offers energy management solutions; hot stamping, high strength steels, aluminum castings, and high-pressure vacuum casting; suspension links and arms, twist axle, carbon fiber subframe, and frames; ADAS and Automated Driving, including Cameras, thermal sensing, interior sensing, complete radar portfolio, and compute units; and chassis control, glow plug control, powertrain control, and mechatronic control modules. Further, it provides exterior and interior products comprising assist steps, engineered glass, exterior solutions, greenhouse surrounds, lighting, mechatronics, mirrors, and seating; and powertrain products consisting BEV, Hybrid, and ICE powertrain, as well as modules and components, and energy storage systems. Magna International Inc. was founded in 1957 and is based in Aurora, Canada.
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