100,818 Shares in Telesat Corporation (NASDAQ:TSAT) Acquired by Dakota Wealth Management

Dakota Wealth Management acquired a new position in Telesat Corporation (NASDAQ:TSAT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,818 shares of the company's stock, valued at approximately $1,898,000. Dakota Wealth Management owned about 0.74% of Telesat at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. K.J. Harrison & Partners Inc bought a new position in shares of Telesat in the first quarter valued at about $474,000. LM Asset IM Inc. acquired a new stake in Telesat in the fourth quarter worth about $13,290,000. Squarepoint Ops LLC acquired a new stake in Telesat in the fourth quarter worth about $552,000. Millennium Management LLC acquired a new stake in Telesat in the fourth quarter worth about $368,000. Finally, Bank of America Corp DE increased its position in Telesat by 13.7% in the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company's stock worth $121,000 after purchasing an additional 889 shares during the period.

Telesat Stock Up 1.1%

Shares of NASDAQ:TSAT traded up $0.30 during trading on Thursday, hitting $26.96. 107,074 shares of the company's stock traded hands, compared to its average volume of 70,903. Telesat Corporation has a 52 week low of $7.21 and a 52 week high of $27.58. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 1.64. The company has a market cap of $367.76 million, a price-to-earnings ratio of -6.01 and a beta of 2.10. The company has a 50-day moving average price of $19.95 and a 200-day moving average price of $18.84.

Telesat (NASDAQ:TSAT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $1.09. The company had revenue of $81.12 million for the quarter, compared to analyst estimates of $106.67 million. Telesat had a negative return on equity of 6.83% and a negative net margin of 16.09%.

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.