MDA Space Ltd. $MDA Shares Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec raised its holdings in MDA Space Ltd. (NYSE:MDA) by 13.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 785,799 shares of the company’s stock after buying an additional 94,799 shares during the quarter. Caisse de depot et placement du Quebec owned approximately 0.48% of MDA Space worth $32,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cibc World Market Inc. lifted its holdings in shares of MDA Space by 15.0% during the 2nd quarter. Cibc World Market Inc. now owns 201,121 shares of the company’s stock worth $8,303,000 after acquiring an additional 26,193 shares during the period. Legal & General Group Plc boosted its position in shares of MDA Space by 10.7% in the second quarter. Legal & General Group Plc now owns 133,893 shares of the company’s stock worth $5,530,000 after acquiring an additional 12,889 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in MDA Space by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 124,010 shares of the company’s stock valued at $5,114,000 after purchasing an additional 10,316 shares during the period. BlackRock Inc. acquired a new position in MDA Space during the second quarter worth approximately $4,931,000. Finally, Deutsche Bank AG raised its stake in MDA Space by 85.9% during the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock worth $2,250,000 after purchasing an additional 25,197 shares during the period.

MDA Space Stock Performance

MDA stock opened at $28.86 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. MDA Space Ltd. has a 1 year low of $23.23 and a 1 year high of $49.37. The firm has a market capitalization of $4.68 billion and a price-to-earnings ratio of 53.44. The company has a 50-day moving average of $33.91.

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

Analyst Ratings Changes

MDA has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price objective on shares of MDA Space in a research note on Tuesday, August 11th. Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Finally, ATB Cormark Capital Markets downgraded MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

MDA Space 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.