Caisse de depot et placement du Quebec Grows Holdings in MDA Space Ltd. $MDA

Caisse de depot et placement du Quebec boosted its position in MDA Space Ltd. (NYSE:MDA) by 13.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 785,799 shares of the company’s stock after acquiring an additional 94,799 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in MDA Space were worth $32,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDA. Tacita Capital Inc grew its stake 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 valued at $103,000 after acquiring an additional 2,472 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of MDA Space in the second quarter worth about $388,000. Quantbot Technologies LP acquired a new position in shares of MDA Space in the second quarter worth about $593,000. SCS Capital Management LLC purchased a new position in MDA Space in the second quarter valued at about $1,003,000. Finally, Deutsche Bank AG boosted its holdings in MDA Space by 85.9% in the second quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after purchasing an additional 25,197 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price objective on shares of MDA Space in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. ATB Cormark Capital Markets downgraded shares of MDA Space from a “moderate buy” rating to a “hold” rating in a research report on Friday, May 29th. Zacks Research upgraded shares of MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.00.

MDA Space Stock Performance

Shares of MDA stock opened at $28.86 on Friday. 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 one year low of $23.23 and a one year high of $49.37. The stock’s 50-day moving average is $33.91. The company has a market capitalization of $4.68 billion and a PE ratio of 53.44.

MDA Space (NYSE:MDA) last posted its quarterly earnings results 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, research analysts forecast that MDA Space Ltd. will post 0.95 EPS 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.