24,300 Shares in MDA Space Ltd. $MDA Purchased by SCS Capital Management LLC

SCS Capital Management LLC acquired a new position in MDA Space Ltd. (NYSE:MDA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 24,300 shares of the company’s stock, valued at approximately $1,003,000.

MDA Space Stock Up 0.0%

MDA stock opened at $35.22 on Monday. The firm has a market capitalization of $5.71 billion and a P/E ratio of 65.22. The company has a 50-day moving average of $35.39. MDA Space Ltd. has a 52 week low of $23.23 and a 52 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 posted its quarterly earnings data on Friday, August 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million during the quarter, compared to analysts’ expectations of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, analysts anticipate that MDA Space Ltd. will post 0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $49.00 price target on shares of MDA Space in a research report on Tuesday, August 11th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a research report on Monday, June 22nd. Canaccord Genuity Group upgraded MDA Space to a “strong-buy” rating in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $41.00 price target on shares of MDA Space in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MDA Space presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.25.

About MDA Space

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.