Gabelli Funds LLC Has $13.69 Million Stake in Telesat Corporation $TSAT

Key Points

• Gabelli Funds LLC reduced its stake in Telesat Corporation by 5.3%, now owning 726,829 shares valued at approximately $13.69 million.
• Telesat reported $1.00 EPS for the quarter, exceeding analysts' expectations, but revenue fell short at $77.94 million against an estimated $109.64 million.
• The stock has a market capitalization of $274.44 million and a P/E ratio of -3.83, indicating a challenging financial outlook.

Gabelli Funds LLC decreased its stake in shares of Telesat Corporation (NASDAQ:TSAT - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 726,829 shares of the company's stock after selling 40,891 shares during the period. Gabelli Funds LLC owned 5.33% of Telesat worth $13,686,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TSAT. LM Asset IM Inc. acquired a new stake in Telesat in the 4th quarter valued at approximately $13,290,000. Vestcor Inc acquired a new stake in Telesat in the 1st quarter valued at approximately $2,354,000. PCJ Investment Counsel Ltd. acquired a new stake in Telesat in the 1st quarter valued at approximately $2,103,000. Dakota Wealth Management acquired a new stake in Telesat in the 1st quarter valued at approximately $1,898,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Telesat by 35.8% in the 1st 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 last quarter.

Telesat Stock Performance

TSAT opened at $20.12 on Thursday. The firm has a market capitalization of $274.44 million, a P/E ratio of -3.83 and a beta of 2.16. The stock's 50 day moving average price is $23.97 and its two-hundred day moving average price is $20.07. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 1.69. Telesat Corporation has a 12-month low of $9.86 and a 12-month high of $29.91.

Telesat (NASDAQ:TSAT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $1.69. The firm had revenue of $77.94 million for the quarter, compared to analyst estimates of $109.64 million. Telesat had a negative return on equity of 3.54% and a negative net margin of 20.74%.

Telesat Company 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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