Insider Selling: MDA Space (TSE:MDA) Insider Sells 40,000 Shares of Stock

MDA Space Ltd. (TSE:MDA) insider Minda Marie Suchan sold 40,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of C$53.22, for a total value of C$2,128,800.00. Following the transaction, the insider owned 49,784 shares in the company, valued at approximately C$2,649,504.48. This trade represents a 44.55% decrease in their position.

MDA Space Stock Performance

Shares of TSE MDA traded up C$3.77 during trading hours on Thursday, reaching C$56.40. 674,254 shares of the stock were exchanged, compared to its average volume of 1,166,950. The firm has a market capitalization of C$7.83 billion, a price-to-earnings ratio of 70.50 and a beta of -0.53. The company has a debt-to-equity ratio of 20.62, a quick ratio of 1.00 and a current ratio of 0.80. MDA Space Ltd. has a 52 week low of C$20.85 and a 52 week high of C$67.90. The stock’s fifty day simple moving average is C$49.08 and its 200 day simple moving average is C$38.94.

MDA Space (TSE:MDA) last announced its earnings results on Thursday, May 7th. The company reported C$0.38 earnings per share for the quarter. The company had revenue of C$464.10 million for the quarter. MDA Space had a return on equity of 7.24% and a net margin of 6.02%. Sell-side analysts predict that MDA Space Ltd. will post 0.9605084 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank upgraded MDA Space to a “strong-buy” rating in a research note on Thursday, March 19th. Canadian Imperial Bank of Commerce set a C$57.00 price objective on MDA Space and gave the stock an “outperformer” rating in a research note on Thursday, May 14th. ATB Cormark Capital Markets lowered MDA Space from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$53.00 to C$67.00 in a research note on Friday, May 29th. Canaccord Genuity Group set a C$56.00 price objective on MDA Space and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley boosted their price objective on MDA Space from C$51.00 to C$58.00 in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$57.40.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.