MDA Space Ltd. $MDA Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. raised its position in MDA Space Ltd. (NYSE:MDA) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,121 shares of the company’s stock after purchasing an additional 26,193 shares during the period. Cibc World Market Inc. owned about 0.12% of MDA Space worth $8,303,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MDA. Tacita Capital Inc grew its holdings 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 buying an additional 2,472 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of MDA Space during the second quarter valued at approximately $388,000. Quantbot Technologies LP purchased a new position in shares of MDA Space during the second quarter valued at approximately $593,000. SCS Capital Management LLC acquired a new stake in MDA Space during the second quarter worth approximately $1,003,000. Finally, Deutsche Bank AG boosted its position in MDA Space by 85.9% during the second 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on MDA shares. ATB Cormark Capital Markets lowered MDA Space from a “moderate buy” rating to a “hold” rating in a research note on Friday, May 29th. Zacks Research raised MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their target price on MDA Space from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Scotiabank reissued an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. One research 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 company’s stock. According to data from MarketBeat, MDA Space has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

MDA Space Stock Down 0.7%

Shares of MDA opened at $29.48 on Wednesday. The firm has a market cap of $4.78 billion and a price-to-earnings ratio of 54.59. The company has a fifty day moving average of $34.48. MDA Space Ltd. has a fifty-two week low of $23.23 and a fifty-two week high of $49.37. 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 (NYSE:MDA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $360.18 million during 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%. As a group, equities research analysts anticipate that MDA Space Ltd. will post 0.95 earnings per share for the current year.

MDA Space 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.