MDA Space Ltd. $MDA Shares Newly Acquired by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments acquired 405,947 MDA Space shares worth approximately $12.1 million, representing about 0.25% of the company. Several other institutional investors also initiated or increased positions.
• MDA Space shares rose 4.3% to $28.63, while the company reported quarterly EPS of $0.26 and revenue of $360.18 million, exceeding analyst expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $50.00, despite one downgrade to “Hold.”

Montrusco Bolton Investments Inc. acquired a new stake in MDA Space Ltd. (NYSE:MDA - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 405,947 shares of the company's stock, valued at approximately $12,052,000. Montrusco Bolton Investments Inc. owned approximately 0.25% of MDA Space at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new stake in shares of MDA Space in the 2nd quarter valued at approximately $317,000. The Manufacturers Life Insurance Company acquired a new position in MDA Space during the second quarter worth $5,114,000. Tidal Investments LLC acquired a new position in MDA Space during the second quarter worth $53,428,000. Squarepoint Ops LLC purchased a new position in MDA Space in the second quarter worth $818,000. Finally, Baird Financial Group Inc. purchased a new position in MDA Space in the second quarter worth $1,730,000.

MDA Space Stock Up 4.3%

Shares of MDA traded up $1.18 on Tuesday, reaching $28.63. The stock had a trading volume of 14,896,722 shares, compared to its average volume of 1,333,491. MDA Space Ltd. has a twelve month low of $23.23 and a twelve month high of $49.37. The stock has a market cap of $4.64 billion and a price-to-earnings ratio of 53.02. The company's 50-day moving average is $30.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72.

MDA Space (NYSE:MDA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $360.18 million during the quarter, compared to analysts' expectations of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. On average, sell-side analysts anticipate that MDA Space Ltd. will post 0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MDA. Weiss Ratings lowered shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. National Bank Financial assumed coverage on shares of MDA Space in a report on Monday, September 14th. They issued an "outperform" rating for the company. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Jefferies Financial Group reissued a "buy" rating on shares of MDA Space in a report on Tuesday. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 price objective on shares of MDA Space in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seven 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 target price of $50.00.

MDA Space Profile

MDA Space is a Canadian space technology company that develops and delivers systems, products and services for government and commercial customers. Its capabilities span satellite communications, Earth observation, space robotics, geointelligence and space exploration.

The company designs and builds satellite systems and payloads, robotics and servicing technologies, and data and analytics solutions. Its historical work includes major contributions to the Canadarm, Canadarm2 and Dextre robotic systems used in space, as well as technologies supporting Earth-observation programs such as RADARSAT.

Headquartered in Brampton, Ontario, MDA Space serves customers in Canada and international markets.

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