Connor Clark & Lunn Investment Management Ltd. Has $318.61 Million Position in MDA Space Ltd. $MDA

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in MDA Space Ltd. (NYSE:MDA) by 20.4% in the second quarter, Holdings Channel.com reports. The firm owned 7,726,685 shares of the company’s stock after selling 1,981,467 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MDA Space were worth $318,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tacita Capital Inc grew its holdings 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 buying an additional 2,472 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in MDA Space in the 2nd quarter worth about $388,000. Quantbot Technologies LP acquired a new stake in MDA Space during the 2nd quarter worth about $593,000. SCS Capital Management LLC acquired a new stake in MDA Space during the 2nd quarter worth about $1,003,000. Finally, Deutsche Bank AG boosted its position in MDA Space by 85.9% during the 2nd quarter. Deutsche Bank AG now owns 54,516 shares of the company’s stock worth $2,250,000 after acquiring an additional 25,197 shares during the period.

MDA Space Trading Down 0.0%

Shares of NYSE:MDA opened at $30.91 on Monday. The company has a market capitalization of $5.01 billion and a PE ratio of 57.24. MDA Space Ltd. has a 1 year low of $23.23 and a 1 year high of $49.37. The stock has a fifty day simple moving average of $34.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.72.

MDA Space (NYSE:MDA) last posted its earnings results on Friday, August 7th. The company reported $0.26 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 firm had revenue of $360.18 million for the quarter, compared to the consensus estimate of $321.87 million. On average, sell-side analysts forecast that MDA Space Ltd. will post 0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MDA shares. JPMorgan Chase & Co. upped their target price on MDA Space from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Scotiabank restated an “outperform” rating on shares of MDA Space in a report on Monday, June 22nd. Zacks Research raised shares of MDA Space from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of MDA Space in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 target price on shares of MDA Space in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, MDA Space presently has an average rating of “Moderate Buy” and an average target price of $50.00.

MDA Space Company 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.