Magal Security Systems (NASDAQ:MAGS) Rating Lowered to Hold at ValuEngine

Magal Security Systems (NASDAQ:MAGS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

Magal Security Systems stock traded up $0.01 during midday trading on Thursday, reaching $2.83. 28,600 shares of the stock traded hands, compared to its average volume of 23,094. The stock’s fifty day moving average is $3.33 and its 200-day moving average is $3.85. Magal Security Systems has a 12 month low of $2.48 and a 12 month high of $5.38. The stock has a market cap of $65.29 million, a P/E ratio of 35.38 and a beta of 1.22.

Large investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Magal Security Systems in the 4th quarter valued at approximately $47,000. Renaissance Technologies LLC lifted its stake in shares of Magal Security Systems by 9.2% in the 4th quarter. Renaissance Technologies LLC now owns 606,376 shares of the industrial products company’s stock valued at $2,274,000 after purchasing an additional 51,300 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Magal Security Systems by 14.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 660,950 shares of the industrial products company’s stock worth $2,479,000 after buying an additional 85,918 shares during the period. Finally, Grace & White Inc. NY increased its holdings in Magal Security Systems by 4.1% during the 4th quarter. Grace & White Inc. NY now owns 1,424,795 shares of the industrial products company’s stock worth $5,343,000 after purchasing an additional 55,663 shares during the period. 19.30% of the stock is owned by institutional investors and hedge funds.

About Magal Security Systems

Magal Security Systems Ltd. develops, manufactures, markets, and sells perimeter intrusion detection sensors, physical barriers, video analytics and video management systems, and cyber security products and systems worldwide. It operates through three segments: Perimeter Products, Turnkey Projects, and Video and Cyber Security.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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