TD Waterhouse Canada Inc. acquired a new stake in shares of MDA Space Ltd. (NYSE:MDA – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 719,533 shares of the company’s stock, valued at approximately $28,441,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S bought a new position in MDA Space in the second quarter worth about $124,000. Van ECK Associates Corp bought a new stake in shares of MDA Space in the 2nd quarter valued at about $135,771,000. Capstone Investment Advisors LLC purchased a new position in shares of MDA Space in the 2nd quarter worth approximately $276,000. Caisse de depot et placement du Quebec grew its position in shares of MDA Space by 13.7% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock worth $32,457,000 after buying an additional 94,799 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of MDA Space by 10.7% in the 2nd quarter. Legal & General Group Plc now owns 133,893 shares of the company’s stock worth $5,530,000 after buying an additional 12,889 shares during the last quarter.
MDA Space Trading Up 1.6%
Shares of MDA Space stock opened at $29.52 on Friday. The company’s 50 day moving average is $33.03. The firm has a market cap of $4.79 billion and a price-to-earnings ratio of 54.67. MDA Space Ltd. has a 12-month low of $23.23 and a 12-month high of $49.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72.
Wall Street Analyst Weigh In
Several brokerages have recently commented on MDA. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Weiss Ratings downgraded MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. Scotiabank reiterated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of MDA Space in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.
Get Our Latest Stock Analysis on MDA Space
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.
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