The Manufacturers Life Insurance Company Makes New $5.11 Million Investment in MDA Space Ltd. $MDA

The Manufacturers Life Insurance Company bought a new position in MDA Space Ltd. (NYSE:MDA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 124,010 shares of the company’s stock, valued at approximately $5,114,000.

A number of other institutional investors have also modified their holdings of MDA. SCS Capital Management LLC bought a new position in shares of MDA Space during the second quarter worth about $1,003,000. Deutsche Bank AG increased its holdings 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 buying an additional 25,197 shares during the last quarter. BlackRock Inc. bought a new stake in MDA Space in the second quarter valued at about $4,931,000. Citizens Financial Group Inc. RI acquired a new stake in MDA Space during the second quarter valued at approximately $388,000. Finally, Tacita Capital Inc raised its stake in MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company’s stock valued at $103,000 after buying an additional 2,472 shares in the last quarter.

Analysts Set New Price Targets

MDA has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Jefferies Financial Group reissued a “buy” rating and set a $49.00 price target on shares of MDA Space in a research report on Tuesday, August 11th. Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. One research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

MDA Space Stock Down 0.1%

MDA opened at $28.93 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The stock’s 50-day simple moving average is $31.95. MDA Space Ltd. has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. The firm has a market capitalization of $4.69 billion and a price-to-earnings ratio of 53.57.

MDA Space (NYSE:MDA) last issued its earnings results on Friday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. Research analysts anticipate that MDA Space Ltd. will post 0.96 earnings per share for the current year.

MDA Space Company Profile

MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.

Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.

The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.