Mirae Asset Global Investments Co. Ltd. Makes New $21.29 Million Investment in MDA Space Ltd. $MDA

Key Points

• Mirae Asset Global Investments acquired 718,488 shares of MDA Space, valued at approximately $21.29 million, representing about 0.44% of the company.
• MDA Space exceeded quarterly expectations, reporting $0.26 in earnings per share versus the $0.24 consensus estimate and revenue of $360.18 million versus $321.87 million expected.
• The stock opened at $26.24, well below its 12-month high of $49.37, while analysts maintained an overall “Moderate Buy” rating with an average price target of $50.00.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MDA Space Ltd. (NYSE:MDA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 718,488 shares of the company's stock, valued at approximately $21,289,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.44% of MDA Space as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tacita Capital Inc raised its position in shares of MDA Space by 16,480.0% during the second quarter. Tacita Capital Inc now owns 2,487 shares of the company's stock worth $103,000 after purchasing an additional 2,472 shares during the period. Nykredit A S purchased a new stake in shares of MDA Space during the second quarter valued at $124,000. Citizens Financial Group Inc. RI purchased a new stake in shares of MDA Space during the third quarter valued at $234,000. Capstone Investment Advisors LLC acquired a new position in shares of MDA Space in the 2nd quarter valued at $276,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of MDA Space in the 2nd quarter valued at $317,000.

MDA Space Price Performance

MDA opened at $26.24 on Tuesday. The firm has a market capitalization of $4.26 billion and a P/E ratio of 48.59. The stock has a fifty day moving average of $29.12 and a 200-day moving average of $33.39. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. MDA Space Ltd. has a 12-month low of $23.23 and a 12-month high of $49.37.

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, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $360.18 million for 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%. Equities analysts forecast that MDA Space Ltd. will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on MDA Space from $43.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. National Bank Financial initiated coverage on shares of MDA Space in a research note on Monday, September 14th. They set an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $41.00 price objective on shares of MDA Space in a research note on Monday, August 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $60.00 target price on shares of MDA Space in a report on Monday, August 17th. Finally, Weiss Ratings downgraded shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, MDA Space currently has an average rating of "Moderate Buy" and an average target price of $50.00.

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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