Mirae Asset Global Investments Co. Ltd. Purchases New Stake in MDA Space Ltd. $MDA

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of MDA Space Ltd. (NYSE:MDA) during the third quarter, Holdings Channel.com reports. The fund acquired 718,488 shares of the company’s stock, valued at approximately $21,289,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDA. The Manufacturers Life Insurance Company purchased a new stake in MDA Space in the 2nd quarter worth approximately $5,114,000. BlackRock Inc. purchased a new position in shares of MDA Space during the 2nd quarter valued at $4,931,000. TD Waterhouse Canada Inc. grew its holdings in shares of MDA Space by 37.9% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 992,507 shares of the company’s stock valued at $28,630,000 after acquiring an additional 272,974 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in shares of MDA Space in the third quarter worth $12,052,000. Finally, Caisse de depot et placement du Quebec increased its stake in shares of MDA Space by 13.7% in the second quarter. Caisse de depot et placement du Quebec now owns 785,799 shares of the company’s stock worth $32,457,000 after acquiring an additional 94,799 shares during the last quarter.

MDA Space Trading Down 3.5%

NYSE:MDA opened at $26.24 on Tuesday. The company’s 50 day moving average is $29.12 and its 200-day moving average is $33.39. 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 12 month low of $23.23 and a 12 month high of $49.37. The firm has a market cap of $4.26 billion and a price-to-earnings ratio of 48.59.

MDA Space (NYSE:MDA) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. MDA Space had a net margin of 5.68% and a return on equity of 9.42%. The business had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. Equities analysts anticipate that MDA Space Ltd. will post 0.96 EPS for the current year.

Analyst Upgrades and Downgrades

MDA has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating on shares of MDA Space in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. National Bank Financial assumed coverage on MDA Space in a research note on Monday, September 14th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price target on MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings cut MDA Space from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

MDA Space Company Profile

MDA Space Ltd. is a Canadian space technology company that designs and delivers systems, products and services for government and commercial customers. Its activities span satellite communications, Earth observation, space robotics, geointelligence and lunar exploration, with capabilities covering mission planning, engineering, manufacturing and in-orbit support.

The company is known for developing space robotics and automation technologies, including systems used on the International Space Station, as well as satellite payloads, satellite subsystems and communications platforms.