Insider Selling: MDA Space (TSE:MDA) Director Sells 1,009,300 Shares of Stock

Key Points

• Director Michael Philip James Greenley sold 1,009,300 shares of MDA Space Ltd. on August 18th for a total of C$45.42 million, significantly decreasing his ownership by 89.61%.
• MDA Space's stock opened at C$30.80, with a 12-month price range of C$15.53 to C$48.31, and a current market cap of C$3.85 billion.
• A number of analysts have downgraded their price targets for MDA Space, with the consensus rating at "Buy" and an average target price of C$38.44.

MDA Space Ltd. (TSE:MDA - Get Free Report) Director Michael Philip James Greenley sold 1,009,300 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of C$45.00, for a total transaction of C$45,418,500.00. Following the transaction, the director owned 117,037 shares of the company's stock, valued at approximately C$5,266,665. This trade represents a 89.61% decrease in their position.

MDA Space Price Performance

Shares of MDA traded down C$0.13 during mid-day trading on Friday, hitting C$31.42. 172,609 shares of the company were exchanged, compared to its average volume of 565,366. MDA Space Ltd. has a 1-year low of C$16.20 and a 1-year high of C$48.31. The company has a debt-to-equity ratio of 34.94, a quick ratio of 1.00 and a current ratio of 0.83. The company has a 50 day moving average of C$41.03 and a 200-day moving average of C$32.57. The stock has a market cap of C$3.92 billion, a price-to-earnings ratio of 34.91 and a beta of -0.63.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDA. Desjardins reduced their price target on shares of MDA Space from C$56.00 to C$43.00 and set a "buy" rating for the company in a research report on Tuesday, September 9th. Canaccord Genuity Group dropped their price objective on shares of MDA Space from C$54.00 to C$47.00 in a research note on Tuesday, September 9th. Scotiabank dropped their price objective on shares of MDA Space from C$55.00 to C$43.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Royal Bank Of Canada dropped their price objective on shares of MDA Space from C$53.00 to C$45.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Finally, BMO Capital Markets dropped their price objective on shares of MDA Space from C$53.00 to C$40.00 and set an "outperform" rating for the company in a research note on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$38.44.

About MDA Space

MDA Space Ltd, formerly MDA Ltd, is a global space company. The Company is a robotics, satellite systems and Geo intelligence provider. It provides communications satellites and earth and space observation. It is also involved in space exploration and infrastructure. Its software, AURORA, is a digital satellite product line providing critical new solutions to operators.