Telesat Corporation $TSAT Position Reduced by Gabelli Funds LLC

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

A number of other institutional investors and hedge funds also recently bought and sold shares of TSAT. LM Asset IM Inc. acquired a new stake in Telesat in the 4th quarter valued at about $13,290,000. Vestcor Inc acquired a new stake in Telesat in the 1st quarter valued at about $2,354,000. PCJ Investment Counsel Ltd. acquired a new stake in Telesat in the 1st quarter valued at about $2,103,000. Dakota Wealth Management acquired a new stake in Telesat in the 1st quarter valued at about $1,898,000. Finally, Aristeia Capital L.L.C. acquired a new stake in Telesat in the 4th quarter valued at about $649,000.

Telesat Price Performance

NASDAQ TSAT traded down $0.36 on Tuesday, reaching $20.37. The company's stock had a trading volume of 7,492 shares, compared to its average volume of 92,737. Telesat Corporation has a twelve month low of $9.86 and a twelve month high of $29.91. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.08 and a current ratio of 5.08. The stock has a market cap of $277.85 million, a PE ratio of -3.87 and a beta of 2.09. The firm's 50 day moving average is $23.86 and its two-hundred day moving average is $20.03.

Telesat (NASDAQ:TSAT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $77.94 million during the quarter, compared to analyst estimates 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.