William Blair Investment Management LLC Has $38.31 Million Position in MDA Space Ltd. $MDA

Key Points

• William Blair Investment Management reduced its MDA Space stake by 3.7% in the second quarter, selling 35,450 shares. It still held 928,044 shares worth approximately $38.31 million, or 0.57% of the company.
• Institutional interest was mixed, with BlackRock and several other investors initiating positions while Deutsche Bank increased its stake by 85.9% and Tacita Capital expanded its position substantially.
• MDA Space has a consensus “Moderate Buy” rating and a $50 target price, despite shares opening at $30.91. The company recently beat quarterly estimates, reporting $0.26 in EPS and $360.18 million in revenue.

William Blair Investment Management LLC lowered its stake in shares of MDA Space Ltd. (NYSE:MDA - Free Report) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 928,044 shares of the company's stock after selling 35,450 shares during the quarter. William Blair Investment Management LLC owned about 0.57% of MDA Space worth $38,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of MDA Space in the second quarter worth $4,931,000. Deutsche Bank AG lifted its position in MDA Space by 85.9% during the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company's stock worth $2,250,000 after acquiring an additional 25,197 shares during the last quarter. SCS Capital Management LLC acquired a new position in MDA Space during the 2nd quarter worth $1,003,000. Citizens Financial Group Inc. RI bought a new stake in MDA Space during the second quarter valued at about $388,000. Finally, Tacita Capital Inc grew its position 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 purchasing an additional 2,472 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MDA shares. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of MDA Space in a research note on Monday, June 22nd. Weiss Ratings downgraded MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $41.00 target price on shares of MDA Space in a report on Monday, August 10th. ATB Cormark Capital Markets downgraded MDA Space from a "moderate buy" rating to a "hold" rating in a research report on Friday, May 29th. Finally, Zacks Research upgraded MDA Space from a "strong sell" rating to a "hold" rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

MDA Space Trading Down 1.1%

Shares of NYSE MDA opened at $30.91 on Friday. The company has a fifty day moving average price of $34.82. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.01 billion and a price-to-earnings ratio of 57.24. MDA Space Ltd. has a one year low of $23.23 and a one year high of $49.37.

MDA Space (NYSE:MDA - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The firm had revenue of $360.18 million for the quarter, compared to analyst estimates of $321.87 million. On average, research analysts anticipate that MDA Space Ltd. will post 0.95 earnings per share for the current fiscal year.

MDA Space Company Profile

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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