MDA Space Ltd. $MDA Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. boosted its holdings in MDA Space Ltd. (NYSE:MDA) by 15.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 201,121 shares of the company’s stock after buying an additional 26,193 shares during the period. Cibc World Market Inc.’s holdings in MDA Space were worth $8,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in MDA Space during the second quarter worth approximately $4,931,000. Deutsche Bank AG raised its stake in shares of MDA Space by 85.9% in the 2nd 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. SCS Capital Management LLC purchased a new position in shares of MDA Space in the 2nd quarter valued at $1,003,000. Quantbot Technologies LP acquired a new position in shares of MDA Space during the 2nd quarter valued at $593,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of MDA Space during the 2nd quarter valued at $388,000.

MDA Space Trading Down 0.7%

Shares of MDA stock opened at $29.48 on Wednesday. The company has a fifty day moving average price of $34.48. The stock has a market capitalization of $4.78 billion and a P/E ratio of 54.59. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The firm had revenue of $360.18 million for the quarter, compared to the consensus estimate of $321.87 million. Equities research analysts predict that MDA Space Ltd. will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MDA shares. ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating in a report on Friday, May 29th. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a research note on Monday, August 17th. JPMorgan Chase & Co. upped their target price on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Zacks Research upgraded MDA Space from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, MDA Space has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.