Increased Short Interest in Magna International

According to our data, short sellers have increased their positions in Magna International Inc (MGA) over the last three weeks. The percentage of MGA's Market Cap on Loan (%MCOL) has risen from 0.35% to 0.7% since February 17th. This is a small percentage, but the Utilisation is comparatively high at 35% today, up from 18% three weeks ago (click to enlarge graph).

The Baltimoresun.com reported on February 27th that the car manufacturer had reported Q4 earnings had fallen to $28m, or 24c a share, compared to a net income of $29m, or 26c a share.

The average Utilisation for the rest of the US Equity Others is 20%, and for the rest of the North America Automobiles and Components Sector it is 33%. For those wishing to buy back shares in MGA (short interest ratio) there are 6.25 Days to Cover.