Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Telesat Corporation $TSAT

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Telesat Corporation by 35.8%, acquiring an additional 17,133 shares to reach a total of 65,053 shares valued at approximately $1,225,000.
• Several hedge funds, including LM Asset IM Inc. and Vestcor Inc., made significant new investments in Telesat during the fourth and first quarters, reflecting growing institutional interest in the company.
• Telesat recently reported earnings of $1.00 per share, surpassing analysts' estimates, despite a negative net margin of 20.74% and revenue falling short of projections at $77.94 million.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Telesat Corporation (NASDAQ:TSAT - Free Report) by 35.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,053 shares of the company's stock after purchasing an additional 17,133 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of Telesat worth $1,225,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TSAT. JPMorgan Chase & Co. boosted its position 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 period. Bank of America Corp DE boosted its position 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 period. Atria Wealth Solutions Inc. acquired a new stake in shares of Telesat in the 1st quarter valued at about $256,000. Millennium Management LLC acquired a new stake in shares of Telesat in the 4th quarter valued at about $368,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in shares of Telesat in the 1st quarter valued at about $474,000.

Telesat Stock Performance

Shares of NASDAQ TSAT traded up $0.47 during trading hours on Thursday, reaching $20.40. The stock had a trading volume of 58,713 shares, compared to its average volume of 107,514. Telesat Corporation has a fifty-two week low of $9.04 and a fifty-two week high of $29.91. The firm has a 50-day moving average of $23.80 and a 200-day moving average of $20.05. 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 firm has a market cap of $278.26 million, a price-to-earnings ratio of -3.88 and a beta of 2.16.

Telesat (NASDAQ:TSAT - Get Free Report) last announced its earnings results 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 return on equity of 3.54% and a negative net margin of 20.74%.The company had revenue of $77.94 million for the quarter, compared to the consensus estimate 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.