K.J. Harrison & Partners Inc Reduces Holdings in MDA Space Ltd. $MDA

K.J. Harrison & Partners Inc lessened its holdings in shares of MDA Space Ltd. (NYSE:MDA) by 20.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,500 shares of the company’s stock after selling 36,300 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in MDA Space were worth $5,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. SCS Capital Management LLC bought a new position in shares of MDA Space in the second quarter worth approximately $1,003,000. BlackRock Inc. purchased a new position in shares of MDA Space during the second quarter valued at about $4,931,000. Finally, Deutsche Bank AG grew its holdings in MDA Space by 85.9% during the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock valued at $2,250,000 after buying an additional 25,197 shares in the last quarter.

MDA Space Stock Up 0.2%

MDA opened at $35.27 on Tuesday. The firm’s 50-day moving average is $35.32. The firm has a market capitalization of $5.72 billion and a P/E ratio of 65.31. MDA Space Ltd. has a 52-week low of $23.23 and a 52-week high of $49.37. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

MDA Space (NYSE:MDA) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.26 EPS 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 the consensus estimate of $321.87 million. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. On average, research analysts anticipate that MDA Space Ltd. will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of MDA Space from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $41.00 price objective on shares of MDA Space in a research report on Monday, August 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $49.00 target price on shares of MDA Space in a research report on Tuesday, August 11th. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price target on shares of MDA Space in a research note on Monday. Finally, Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.