Van Den Berg Management I Lowered Its Colfax (CFX) Stake; Magna International (MGA) Shorts Decreased By 9.33%

November 15, 2017 - By Michael Collier

Van Den Berg Management I Inc decreased Colfax Corp (CFX) stake by 3.36% reported in 2017Q2 SEC filing. Van Den Berg Management I Inc sold 35,280 shares as Colfax Corp (CFX)’s stock rose 1.39%. The Van Den Berg Management I Inc holds 1.01M shares with $39.93M value, down from 1.05 million last quarter. Colfax Corp now has $4.29B valuation. The stock declined 1.25% or $0.44 reaching $34.86 per share. About 2,167 shares traded. Colfax Corp (NYSE:CFX) has risen 61.22% since November 15, 2016 and is uptrending. It has outperformed by 44.52% the S&P500.

Magna International Incorporated (NYSE:MGA) had a decrease of 9.33% in short interest. MGA’s SI was 4.82 million shares in November as released by FINRA. Its down 9.33% from 5.31 million shares previously. With 1.18 million avg volume, 4 days are for Magna International Incorporated (NYSE:MGA)’s short sellers to cover MGA’s short positions. The SI to Magna International Incorporated’s float is 1.34%. About shares traded. Magna International Inc. (USA) (NYSE:MGA) has risen 15.97% since November 15, 2016 and is uptrending. It has underperformed by 0.73% the S&P500.

Among 13 analysts covering Magna International (NYSE:MGA), 9 have Buy rating, 1 Sell and 3 Hold. Therefore 69% are positive. Magna International had 42 analyst reports since August 6, 2015 according to SRatingsIntel. The stock has “Buy” rating by RBC Capital Markets on Sunday, October 29. The rating was downgraded by Goldman Sachs to “Sell” on Monday, October 16. The rating was upgraded by Citigroup on Monday, January 25 to “Buy”. The stock of Magna International Inc. (USA) (NYSE:MGA) has “Buy” rating given on Friday, August 14 by Deutsche Bank. The stock of Magna International Inc. (USA) (NYSE:MGA) has “Hold” rating given on Friday, January 13 by TD Securities. Zacks downgraded Magna International Inc. (USA) (NYSE:MGA) on Thursday, August 6 to “Hold” rating. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Monday, August 28. The stock has “Hold” rating by BMO Capital Markets on Monday, November 6. The company was maintained on Thursday, January 14 by RBC Capital Markets. BMO Capital Markets downgraded the stock to “Market Perform” rating in Tuesday, June 28 report.

Magna International Inc. is a global automotive supplier. The company has market cap of $18.95 billion. The Company’s divisions are North America, Europe, Asia, Rest of World, and Corporate and Other. It has a 9.35 P/E ratio. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.

Analysts await Colfax Corp (NYSE:CFX) to report earnings on February, 1. They expect $0.48 earnings per share, up 4.35% or $0.02 from last year’s $0.46 per share. CFX’s profit will be $59.07 million for 18.16 P/E if the $0.48 EPS becomes a reality. After $0.42 actual earnings per share reported by Colfax Corp for the previous quarter, Wall Street now forecasts 14.29% EPS growth.

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