Atria Wealth Solutions Inc. Invests $256,000 in Telesat Corporation (NASDAQ:TSAT)

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 Telesat Corporation (NASDAQ:TSAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,600 shares of the company's stock, valued at approximately $256,000. Atria Wealth Solutions Inc. owned approximately 0.10% of Telesat as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings 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 valued at $43,000 after purchasing an additional 2,456 shares during the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of Telesat during the fourth quarter valued at approximately $649,000. Bank of America Corp DE raised its holdings 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 valued at $121,000 after purchasing an additional 889 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Telesat during the fourth quarter valued at approximately $368,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Telesat during the fourth quarter valued at approximately $552,000.

Telesat Stock Down 0.5%

TSAT opened at $22.07 on Friday. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 1.69. The firm has a 50 day moving average price of $23.52 and a 200-day moving average price of $20.00. Telesat Corporation has a twelve month low of $9.04 and a twelve month high of $29.91. The stock has a market capitalization of $301.03 million, a price-to-earnings ratio of -4.20 and a beta of 2.16.

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, beating 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 firm had revenue of $77.94 million during the quarter, compared to analysts' expectations of $109.64 million.

Telesat 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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