CIBC World Markets Inc. Reduces Stock Holdings in Maxar Technologies Inc. (NYSE:MAXR)

CIBC World Markets Inc. lowered its position in Maxar Technologies Inc. (NYSE:MAXR) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,329 shares of the company’s stock after selling 22,134 shares during the quarter. CIBC World Markets Inc.’s holdings in Maxar Technologies were worth $2,546,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Maxar Technologies by 1,788.9% during the fourth quarter. US Bancorp DE now owns 1,020 shares of the company’s stock valued at $39,000 after acquiring an additional 966 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Maxar Technologies in the 1st quarter worth about $41,000. Laurel Wealth Advisors LLC acquired a new stake in Maxar Technologies in the 4th quarter worth about $77,000. Strs Ohio acquired a new stake in Maxar Technologies in the 1st quarter worth about $94,000. Finally, Centaurus Financial Inc. acquired a new stake in Maxar Technologies in the 1st quarter worth about $105,000. Institutional investors and hedge funds own 67.55% of the company’s stock.

In related news, CEO Daniel L. Jablonsky acquired 2,000 shares of Maxar Technologies stock in a transaction that occurred on Thursday, May 6th. The stock was acquired at an average price of $28.06 per share, for a total transaction of $56,120.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Biggs C. Porter acquired 3,400 shares of Maxar Technologies stock in a transaction that occurred on Thursday, May 6th. The shares were bought at an average price of $28.00 per share, with a total value of $95,200.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 6,900 shares of company stock valued at $204,900 in the last 90 days. Insiders own 1.90% of the company’s stock.

A number of brokerages have issued reports on MAXR. Zacks Investment Research raised Maxar Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, June 3rd. Credit Suisse Group decreased their price target on Maxar Technologies from $56.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 16th. Truist Securities began coverage on Maxar Technologies in a report on Wednesday, March 17th. They issued a “buy” rating and a $59.00 price objective on the stock. Canaccord Genuity cut their price objective on Maxar Technologies from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, March 25th. Finally, TD Securities cut their price objective on Maxar Technologies from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 4th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $47.80.

MAXR stock opened at $35.82 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 8.27 and a beta of 1.36. The business’s 50 day simple moving average is $34.44. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.68. Maxar Technologies Inc. has a 52-week low of $13.70 and a 52-week high of $58.75.

Maxar Technologies (NYSE:MAXR) last issued its earnings results on Sunday, May 2nd. The company reported ($1.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($1.24). The firm had revenue of $392.00 million during the quarter, compared to analyst estimates of $435.81 million. Maxar Technologies had a negative return on equity of 13.42% and a net margin of 15.40%. Maxar Technologies’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.80) EPS. Equities research analysts anticipate that Maxar Technologies Inc. will post -0.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.11%. Maxar Technologies’s dividend payout ratio is currently -2.07%.

About Maxar Technologies

Maxar Technologies Inc provides earth intelligence and space infrastructure solutions in the United States, Asia, South America, Europe, the Middle East, Australia, Canada, and internationally. It operates through Earth Intelligence and Space Infrastructure segments. The Earth Intelligence segment offers earth imagery products, including orthorectified imagery, imagery basemap, 3D and elevation, and information products; and SecureWatch, a subscription offering that provides online access to imagery and geospatial intelligence platform.

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Institutional Ownership by Quarter for Maxar Technologies (NYSE:MAXR)

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