William Blair Investment Management LLC Has $38.31 Million Stock Position in MDA Space Ltd. $MDA

William Blair Investment Management LLC reduced its stake in MDA Space Ltd. (NYSE:MDA) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 928,044 shares of the company’s stock after selling 35,450 shares during the quarter. William Blair Investment Management LLC’s holdings in MDA Space were worth $38,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MDA. Tacita Capital Inc lifted its position in shares of MDA Space by 16,480.0% during the 2nd quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock worth $103,000 after buying an additional 2,472 shares during the period. Citizens Financial Group Inc. RI bought a new stake in MDA Space in the second quarter valued at $388,000. SCS Capital Management LLC bought a new stake in MDA Space in the second quarter valued at $1,003,000. Deutsche Bank AG grew its position in MDA Space by 85.9% in the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after acquiring an additional 25,197 shares during the period. Finally, BlackRock Inc. acquired a new position in MDA Space during the second quarter worth $4,931,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDA. JPMorgan Chase & Co. lifted their price objective on MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. ATB Cormark Capital Markets cut shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $41.00 price target on shares of MDA Space in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, MDA Space currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

MDA Space Stock Performance

Shares of NYSE:MDA opened at $30.91 on Friday. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. The firm has a market capitalization of $5.01 billion and a price-to-earnings ratio of 57.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a fifty day simple moving average of $34.82.

MDA Space (NYSE:MDA) last announced its earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, analysts anticipate that MDA Space Ltd. will post 0.95 EPS for the current fiscal year.

MDA Space Company Profile

MDA Space Ltd is a developer and manufacturer of technology and services to the space industry. It is an international space mission partner and robotics, satellite systems, and geo-intelligence pioneer. It is engaged in communications satellites, Earth and space observation, space exploration, and infrastructure. The Company collaborates and partners with governments and space agencies, commercial space companies, and defence and aerospace prime contractors in the space industry. Geographically, it generates the majority of its revenue from Canada.