Caption Management LLC Trims Stock Position in Telesat Corporation $TSAT

Key Points

• Caption Management LLC reduced its stake in Telesat Corporation by 21.0% during the 1st quarter, now holding 138,637 shares worth approximately $2.61 million.
• Several institutional investors increased their positions in Telesat, with Trexquant Investment LP increasing its stake by 115.2% during the same quarter.
• Telesat reported a quarterly earnings per share of $1.00, exceeding analysts' expectations of ($0.69), despite a negative net margin of 20.74%.

Caption Management LLC decreased its holdings in Telesat Corporation (NASDAQ:TSAT - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 138,637 shares of the company's stock after selling 36,776 shares during the quarter. Caption Management LLC owned 1.02% of Telesat worth $2,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LM Asset IM Inc. bought a new position in shares of Telesat during the 4th quarter valued at $13,290,000. Vestcor Inc bought a new stake in Telesat during the first quarter worth about $2,354,000. PCJ Investment Counsel Ltd. acquired a new position in shares of Telesat during the first quarter worth approximately $2,103,000. Dakota Wealth Management acquired a new position in Telesat in the first quarter valued at approximately $1,898,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Telesat by 35.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,053 shares of the company's stock valued at $1,225,000 after buying an additional 17,133 shares during the period.

Telesat Stock Up 5.3%

Shares of TSAT stock traded up $1.15 during trading hours on Friday, hitting $22.89. 82,032 shares of the company were exchanged, compared to its average volume of 92,788. Telesat Corporation has a 52 week low of $10.10 and a 52 week high of $29.91. The business has a 50 day moving average of $23.64 and a two-hundred day moving average of $20.04. The company has a market capitalization of $312.18 million, a PE ratio of -4.36 and a beta of 2.08. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 1.69.

Telesat (NASDAQ:TSAT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates 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.