CIBC Asset Management Inc Has $369,000 Holdings in Maxar Technologies Inc (MAXR)
CIBC Asset Management Inc cut its holdings in shares of Maxar Technologies Inc (NYSE:MAXR) by 96.0% during the 4th quarter, Holdings Channel reports. The firm owned 30,904 shares of the company’s stock after selling 741,664 shares during the quarter. CIBC Asset Management Inc’s holdings in Maxar Technologies were worth $369,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. IMS Capital Management purchased a new stake in Maxar Technologies during the 3rd quarter worth approximately $35,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Maxar Technologies by 244.7% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,196 shares of the company’s stock worth $127,000 after purchasing an additional 7,948 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Maxar Technologies during the 4th quarter worth approximately $143,000. Quantbot Technologies LP purchased a new stake in Maxar Technologies during the 3rd quarter worth approximately $247,000. Finally, Fulton Bank N.A. purchased a new stake in Maxar Technologies during the 4th quarter worth approximately $249,000. Institutional investors own 71.10% of the company’s stock.
In other news, EVP Walter S. Scott purchased 20,300 shares of the stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $5.06 per share, for a total transaction of $102,718.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel L. Jablonsky purchased 20,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average price of $5.15 per share, with a total value of $103,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 56,015 shares of company stock valued at $286,907 over the last quarter.
The company also recently declared a special dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 14th. Maxar Technologies’s dividend payout ratio (DPR) is -38.28%.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Maxar Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. National Bank Financial downgraded Maxar Technologies from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 8th. BMO Capital Markets downgraded Maxar Technologies from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $35.00 to $15.00 in a report on Tuesday, January 8th. Credit Suisse Group downgraded Maxar Technologies from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $17.00 to $5.88 in a report on Tuesday, January 8th. Finally, TD Securities downgraded Maxar Technologies from a “speculative buy” rating to a “hold” rating and dropped their price objective for the stock from $18.50 to $5.70 in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $26.78.
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Maxar Technologies Company Profile
Maxar Technologies Inc, a space and geospatial intelligence company, provides space technology solutions for commercial and government customers worldwide. The company operates through three segments: Space Systems, Imagery, and Services. The Space Systems segment supplies space and ground based infrastructure and information solutions, including communication and imaging satellites, satellite payloads and antenna subsystems, space-based and airborne surveillance solutions, and robotic systems and associated ground infrastructure and support services for communications and surveillance and intelligence applications.
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