Allianz Asset Management GmbH Takes Position in MDA Space Ltd. $MDA

Key Points

• Allianz Asset Management acquired 379,639 shares of MDA Space worth approximately $15.7 million, representing about 0.23% of the company. Several other institutional investors also initiated or increased positions during the second quarter.
• Analysts maintain a generally positive outlook, with MDA Space holding a consensus “Moderate Buy” rating and an average price target of $50. JPMorgan recently raised its target to $50 from $43.
• MDA Space exceeded quarterly expectations, reporting $0.26 in EPS versus the $0.24 consensus and revenue of $360.2 million versus estimates of $321.9 million. The stock opened at $30.18, compared with a 12-month range of $23.23 to $49.37.

Allianz Asset Management GmbH acquired a new position in MDA Space Ltd. (NYSE:MDA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 379,639 shares of the company's stock, valued at approximately $15,665,000. Allianz Asset Management GmbH owned approximately 0.23% of MDA Space as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Tacita Capital Inc boosted 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 valued at $103,000 after purchasing an additional 2,472 shares in the last quarter. Nykredit A S bought a new stake in MDA Space during the second quarter worth approximately $124,000. Capstone Investment Advisors LLC acquired a new position in MDA Space in the second quarter worth approximately $276,000. Citizens Financial Group Inc. RI acquired a new position in MDA Space in the second quarter worth approximately $388,000. Finally, Quantbot Technologies LP bought a new position in shares of MDA Space in the second quarter valued at $593,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Zacks Research upgraded MDA Space from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 11th. Weiss Ratings cut MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of MDA Space in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. increased their price target on MDA Space from $43.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. One 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 stock. According to data from MarketBeat.com, MDA Space currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

MDA Space Stock Performance

NYSE MDA opened at $30.18 on Wednesday. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. 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 stock has a market cap of $4.89 billion and a PE ratio of 55.89. The business's 50 day moving average price is $32.64.

MDA Space (NYSE:MDA - Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.26 earnings per share (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 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, research analysts forecast that MDA Space Ltd. will post 0.95 EPS for the current fiscal year.

About MDA Space

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.

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