Telesat Corporation $TSAT Shares Sold by 1832 Asset Management L.P.

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. decreased its holdings in shares of Telesat Corporation (NASDAQ:TSAT - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Telesat by 1,395.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company's stock worth $43,000 after acquiring an additional 2,456 shares during the last quarter. Bank of America Corp DE increased its stake in Telesat by 13.7% during the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company's stock worth $121,000 after acquiring an additional 889 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Telesat during the first quarter worth $256,000. Millennium Management LLC acquired a new stake in Telesat during the fourth quarter worth $368,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in Telesat during the first quarter worth $474,000.

Telesat Trading Down 1.0%

TSAT stock traded down $0.21 during midday trading on Monday, hitting $20.73. 45,488 shares of the company's stock were exchanged, compared to its average volume of 91,253. The business has a 50-day simple moving average of $23.86 and a two-hundred day simple moving average of $20.03. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $282.76 million, a PE ratio of -3.94 and a beta of 2.09. Telesat Corporation has a 1-year low of $9.86 and a 1-year high of $29.91.

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

About Telesat

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.