Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of MDA Space Ltd. (NYSE:MDA - Free Report) by 20.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,726,685 shares of the company's stock after selling 1,981,467 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 4.77% of MDA Space worth $318,609,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. SCS Capital Management LLC acquired a new position in shares of MDA Space during the 2nd quarter valued at $1,003,000. Quantbot Technologies LP acquired a new stake in shares of MDA Space in the second quarter valued at $593,000. Tacita Capital Inc lifted its holdings in shares of MDA Space by 16,480.0% in 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 during the period. Citizens Financial Group Inc. RI bought a new position in MDA Space during the second quarter valued at about $388,000. Finally, BlackRock Inc. bought a new position in MDA Space during the second quarter valued at about $4,931,000.
MDA Space Stock Down 0.0%
Shares of NYSE MDA opened at $30.91 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.75. MDA Space Ltd. has a 12 month low of $23.23 and a 12 month high of $49.37. The stock has a market capitalization of $5.01 billion and a P/E ratio of 57.24. The company's fifty day moving average is $34.82.
MDA Space (NYSE:MDA - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. MDA Space had a return on equity of 9.42% and a net margin of 5.68%.The firm had revenue of $360.18 million for the quarter, compared to analysts' expectations of $321.87 million. As a group, sell-side analysts expect that MDA Space Ltd. will post 0.95 EPS for the current fiscal year.
Wall Street Analyst Weigh In
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. Scotiabank restated an "outperform" rating on shares of MDA Space in a research report on Monday, June 22nd. ATB Cormark Capital Markets cut shares of MDA Space from a "moderate buy" rating to a "hold" rating in a research note on Friday, May 29th. Weiss Ratings cut shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, MDA Space presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.
View Our Latest Stock Analysis on MDA
MDA Space Profile
(
Free Report)
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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