Spire Wealth Management Trims Stock Holdings in Maxar Technologies Inc. (NYSE:MAXR) – Defense World
Posted by admin on Jul 2nd, 2022 
Spire Wealth Management lowered its stake in shares of Maxar Technologies Inc. (NYSE:MAXR – Get Rating) by 33.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,320 shares of the company’s stock after selling 6,700 shares during the period. Spire Wealth Management’s holdings in Maxar Technologies were worth $526,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC purchased a new position in shares of Maxar Technologies during the 1st quarter valued at about $227,000. PenderFund Capital Management Ltd. raised its stake in shares of Maxar Technologies by 26.5% during the 4th quarter. PenderFund Capital Management Ltd. now owns 313,561 shares of the company’s stock valued at $11,721,000 after buying an additional 65,760 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Maxar Technologies during the 4th quarter valued at about $215,000. D. E. Shaw & Co. Inc. increased its stake in shares of Maxar Technologies by 31.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 866,422 shares of the company’s stock valued at $25,597,000 after purchasing an additional 207,290 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Maxar Technologies in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 74.52% of the company’s stock.
In related news, SVP Elizabeth Andora sold 4,860 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $30.24, for a total value of $146,966.40. Following the transaction, the senior vice president now directly owns 42,367 shares in the company, valued at $1,281,178.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.49% of the company’s stock.
Several equities analysts recently weighed in on the company. TheStreet upgraded Maxar Technologies from a “d+” rating to a “c” rating in a research note on Tuesday, March 22nd. Canaccord Genuity Group upgraded Maxar Technologies from a “hold” rating to a “buy” rating and cut their price target for the company from $42.00 to $38.00 in a research note on Tuesday, May 10th. Citigroup upgraded Maxar Technologies from a “hold” rating to a “buy” rating and cut their price target for the company from $42.00 to $38.00 in a research note on Tuesday, May 10th. They noted that the move was a valuation call. Wells Fargo & Company assumed coverage on Maxar Technologies in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $39.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on Maxar Technologies to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Maxar Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $39.07.
Shares of Maxar Technologies stock opened at $26.58 on Friday. The stock has a market cap of $1.96 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.62 and a beta of 1.31. The stock’s 50 day simple moving average is $28.88 and its 200-day simple moving average is $30.67. Maxar Technologies Inc. has a 1-year low of $22.92 and a 1-year high of $41.07. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.82 and a quick ratio of 0.76.
Maxar Technologies (NYSE:MAXR – Get Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $416.49 million. Maxar Technologies had a return on equity of 5.39% and a net margin of 6.90%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.30) EPS. As a group, research analysts expect that Maxar Technologies Inc. will post 0.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, June 14th. Maxar Technologies’s dividend payout ratio is currently 2.45%.
Maxar Technologies Profile (Get Rating)
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 two segments, Earth Intelligence and Space Infrastructure. The Earth Intelligence segment offers earth imagery and other geospatial data sourced from its advanced satellite constellation and third-party providers to public sector and enterprise customers, as well as a provides advanced geospatial information, applications, and analytic services for national security and commercial solutions.
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