1832 Asset Management L.P. Has $625,000 Stock Position in Telesat Corporation $TSAT

Key Points

• 1832 Asset Management L.P. has reduced its stake in Telesat Corporation by 33.5%, now holding approximately 33,190 shares valued at $625,000.
• Other hedge funds have shown increased interest, with JPMorgan Chase & Co. expanding its position by 1,395.5%, owning 2,632 shares post-purchase.
• Telesat reported its quarterly earnings with an EPS of $1.00, exceeding analysts' expectations, despite having a negative net margin of 20.74%.

1832 Asset Management L.P. lessened its stake in Telesat Corporation (NASDAQ:TSAT - Free Report) by 33.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,190 shares of the company's stock after selling 16,710 shares during the quarter. 1832 Asset Management L.P. owned about 0.24% of Telesat worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSAT. JPMorgan Chase & Co. boosted its stake in shares of Telesat by 1,395.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company's stock valued at $43,000 after purchasing an additional 2,456 shares during the last quarter. Aristeia Capital L.L.C. bought a new position in shares of Telesat in the 4th quarter valued at about $649,000. Bank of America Corp DE boosted its stake in shares of Telesat by 13.7% in the 4th quarter. Bank of America Corp DE now owns 7,360 shares of the company's stock valued at $121,000 after purchasing an additional 889 shares during the last quarter. Millennium Management LLC bought a new position in shares of Telesat in the 4th quarter valued at about $368,000. Finally, Squarepoint Ops LLC bought a new position in shares of Telesat in the 4th quarter valued at about $552,000.

Telesat Trading Down 1.0%

Shares of NASDAQ TSAT traded down $0.21 during mid-day trading on Friday, hitting $20.73. The company's stock had a trading volume of 45,488 shares, compared to its average volume of 96,518. The company's fifty day simple moving average is $23.95 and its 200-day simple moving average is $20.07. Telesat Corporation has a one year low of $9.86 and a one year high of $29.91. The stock has a market cap of $282.76 million, a price-to-earnings ratio of -3.94 and a beta of 2.16. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.08 and a quick ratio of 5.08.

Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of ($0.69) by $1.69. Telesat had a negative net margin of 20.74% and a negative return on equity of 3.54%. The business had revenue of $77.94 million for the quarter, compared to analyst estimates of $109.64 million.

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.