Louisbourg Investments Inc. Sells 164,025 Shares of MDA Space Ltd. $MDA

Key Points

• Louisbourg Investments cut its MDA Space position by 95.3% in the third quarter, selling 164,025 shares and retaining 8,100 shares valued at approximately $241,000.
• Other institutional investors increased exposure, including Caisse de dépôt et placement du Québec, which raised its holdings by 13.7%, while several major firms initiated new positions.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $50 target price. MDA reported quarterly EPS of $0.26 and revenue of $360.18 million, exceeding consensus estimates.

Louisbourg Investments Inc. lessened its position in MDA Space Ltd. (NYSE:MDA - Free Report) by 95.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,100 shares of the company's stock after selling 164,025 shares during the period. Louisbourg Investments Inc.'s holdings in MDA Space were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MDA. BlackRock Inc. purchased a new position in MDA Space during the 2nd quarter valued at about $4,931,000. The Manufacturers Life Insurance Company bought a new position in MDA Space during the 2nd quarter valued at approximately $5,114,000. Montrusco Bolton Investments Inc. bought a new position in MDA Space during the 3rd quarter valued at approximately $12,052,000. Caisse de depot et placement du Quebec raised its position in MDA Space by 13.7% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company's stock valued at $32,457,000 after purchasing an additional 94,799 shares during the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in MDA Space in the 2nd quarter worth approximately $28,441,000.

Analyst Ratings Changes

MDA has been the topic of a number of recent analyst reports. Weiss Ratings lowered MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on MDA Space from $43.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. National Bank Financial started coverage on MDA Space in a report on Monday, September 14th. They set an "outperform" rating for the company. Royal Bank Of Canada restated an "outperform" rating and set a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $41.00 price target on shares of MDA Space in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $50.00.

MDA Space Stock Down 1.9%

Shares of MDA opened at $27.58 on Wednesday. MDA Space Ltd. has a 1-year low of $23.23 and a 1-year 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 company's 50-day moving average is $30.05.

MDA Space (NYSE:MDA - Get Free Report) last released its quarterly 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. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The company had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. Sell-side analysts anticipate that MDA Space Ltd. will post 0.96 earnings per share for the current year.

About MDA Space

MDA Space Ltd. is a Canadian space technology company that designs and delivers systems, products and services for government and commercial customers. Its activities span satellite communications, Earth observation, space robotics, geointelligence and lunar exploration, with capabilities covering mission planning, engineering, manufacturing and in-orbit support.

The company is known for developing space robotics and automation technologies, including systems used on the International Space Station, as well as satellite payloads, satellite subsystems and communications platforms.

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