GABELLI & Co INVESTMENT ADVISERS INC. decreased its stake in shares of Telesat Corp (NASDAQ:TSAT – Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,151 shares of the company’s stock after selling 2,500 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.55% of Telesat worth $603,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Ergoteles LLC bought a new position in shares of Telesat during the first quarter valued at $416,000. Penserra Capital Management LLC increased its stake in Telesat by 41.7% during the 1st quarter. Penserra Capital Management LLC now owns 80,588 shares of the company’s stock valued at $1,329,000 after purchasing an additional 23,697 shares in the last quarter. Vident Investment Advisory LLC lifted its stake in shares of Telesat by 71.1% in the first quarter. Vident Investment Advisory LLC now owns 12,819 shares of the company’s stock worth $212,000 after buying an additional 5,328 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Telesat by 71.8% in the first quarter. Goldman Sachs Group Inc. now owns 84,736 shares of the company’s stock worth $1,398,000 after buying an additional 35,419 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Telesat by 21.8% during the first quarter. Gamco Investors INC. ET AL now owns 1,509,120 shares of the company’s stock valued at $24,900,000 after buying an additional 270,583 shares during the last quarter.
Wall Street Analysts Forecast Growth
Separately, TheStreet upgraded Telesat from a “d” rating to a “c-” rating in a research note on Friday, August 11th.
Telesat Stock Performance
Shares of Telesat stock traded down $0.82 during trading on Friday, hitting $16.24. 57,397 shares of the company’s stock traded hands, compared to its average volume of 243,443. Telesat Corp has a 1 year low of $6.00 and a 1 year high of $22.75. The business has a 50-day simple moving average of $12.85 and a 200-day simple moving average of $9.85. The company has a debt-to-equity ratio of 1.48, a current ratio of 13.10 and a quick ratio of 13.10. The stock has a market capitalization of $208.03 million, a P/E ratio of 3.02 and a beta of 1.94.
Telesat (NASDAQ:TSAT – Get Free Report) last announced its quarterly earnings results on Friday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter. Telesat had a net margin of 14.71% and a negative return on equity of 0.54%. The firm had revenue of $133.83 million for the quarter.
Telesat Company Profile
Telesat Corporation, a satellite operator, provides mission-critical communications solutions to broadcast, enterprise, and consulting customers worldwide. The company’s satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers’ homes; and enables broadcasters, cable networks, and DTH service providers to transmit television programming services.
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