Belpointe Asset Management LLC reduced its stake in shares of Maxar Technologies Inc. (NYSE:MAXR – Get Rating) by 18.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,000 shares of the company’s stock after selling 1,100 shares during the period. Belpointe Asset Management LLC’s holdings in Maxar Technologies were worth $197,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MAXR. Swiss National Bank increased its holdings in Maxar Technologies by 0.5% during the 4th quarter. Swiss National Bank now owns 159,600 shares of the company’s stock worth $4,713,000 after purchasing an additional 800 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Maxar Technologies by 10.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,101 shares of the company’s stock worth $269,000 after purchasing an additional 845 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Maxar Technologies during the 4th quarter worth approximately $26,000. Formidable Asset Management LLC increased its holdings in Maxar Technologies by 2.2% during the 4th quarter. Formidable Asset Management LLC now owns 41,683 shares of the company’s stock worth $1,248,000 after purchasing an additional 913 shares during the last quarter. Finally, Centaurus Financial Inc. increased its holdings in Maxar Technologies by 19.9% during the 4th quarter. Centaurus Financial Inc. now owns 5,623 shares of the company’s stock worth $166,000 after purchasing an additional 933 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MAXR. Bank of America downgraded Maxar Technologies from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $36.00 to $25.00 in a report on Tuesday, May 17th. TD Securities boosted their price target on Maxar Technologies from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 26th. Citigroup upgraded Maxar Technologies from a “hold” rating to a “buy” rating and lowered their price target for the company from $42.00 to $38.00 in a report on Tuesday, May 10th. They noted that the move was a valuation call. Morgan Stanley lowered their price target on Maxar Technologies from $47.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Finally, Wells Fargo & Company started coverage on Maxar Technologies in a report on Tuesday, June 21st. They issued an “overweight” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.93.
Maxar Technologies Trading Down 0.1 %
NYSE:MAXR opened at $26.58 on Friday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 2.46 and a beta of 1.32. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.76 and a current ratio of 0.82. Maxar Technologies Inc. has a 1 year low of $22.92 and a 1 year high of $40.48. The business has a fifty day moving average of $27.09 and a 200-day moving average of $30.33.
Maxar Technologies (NYSE:MAXR – Get Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $405.00 million during the quarter, compared to analyst estimates of $416.49 million. Maxar Technologies had a net margin of 6.90% and a return on equity of 5.39%. Maxar Technologies’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.30) EPS. Equities analysts predict that Maxar Technologies Inc. will post 0.35 earnings per share for the current year.
Insider Activity at Maxar Technologies
In related news, SVP Elizabeth Andora sold 4,860 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $30.24, for a total value of $146,966.40. Following the completion of the transaction, the senior vice president now owns 42,367 shares in the company, valued at approximately $1,281,178.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.49% of the stock is currently owned by insiders.
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 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.
