13,600 Shares in Telesat Corporation $TSAT Bought by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. invested approximately $256,000 in Telesat Corporation by acquiring 13,600 shares during the first quarter of the year.
• Other institutional investors, including JPMorgan Chase & Co., made significant changes to their positions in Telesat, with JPMorgan increasing its holdings by 1,395.5%.
• Telesat reported a loss in its quarterly earnings, with a revenue of $77.94 million, falling short of analysts' expectations of $109.64 million.

Atria Wealth Solutions Inc. bought a new position in shares of Telesat Corporation (NASDAQ:TSAT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,600 shares of the company's stock, valued at approximately $256,000. Atria Wealth Solutions Inc. owned about 0.10% of Telesat as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSAT. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 2,456 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 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 buying an additional 889 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Telesat in the fourth quarter worth $368,000. K.J. Harrison & Partners Inc bought a new stake in shares of Telesat in the first quarter worth $474,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Telesat in the fourth quarter worth $552,000.

Telesat Trading Up 2.4%

Shares of Telesat stock traded up $0.47 during trading on Thursday, hitting $20.40. The company's stock had a trading volume of 58,713 shares, compared to its average volume of 107,514. 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 Corporation has a 52 week low of $9.04 and a 52 week high of $29.91. The stock has a market cap of $278.26 million, a price-to-earnings ratio of -3.88 and a beta of 2.16. The stock has a 50-day moving average price of $23.80 and a two-hundred day moving average price of $20.05.

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, 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 company had revenue of $77.94 million for 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.