Gamco Investors INC. ET AL Sells 50,790 Shares of Telesat Corporation $TSAT

Key Points

• Gamco Investors INC. sold 50,790 shares of Telesat Corporation, reducing its holdings by 2.6% and now owns approximately $35.4 million worth of shares.
• Other investors, including Bank of America and JPMorgan Chase, increased their stakes in Telesat during the last quarters, reflecting growing interest in the company.
• Telesat reported earnings of $1.00 per share, significantly exceeding analysts' expectations of a loss, despite a revenue of $77.94 million falling short of the forecast.

Gamco Investors INC. ET AL trimmed its holdings in shares of Telesat Corporation (NASDAQ:TSAT - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,880,733 shares of the company's stock after selling 50,790 shares during the quarter. Gamco Investors INC. ET AL owned 13.79% of Telesat worth $35,414,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Bank of America Corp DE increased its stake in Telesat by 13.7% during the 4th 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 in the last quarter. JPMorgan Chase & Co. boosted its position in Telesat by 1,395.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company's stock worth $43,000 after acquiring an additional 2,456 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Telesat during the 1st quarter worth approximately $256,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Telesat by 35.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,053 shares of the company's stock worth $1,225,000 after acquiring an additional 17,133 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Telesat during the 4th quarter worth approximately $368,000.

Telesat Trading Down 1.8%

NASDAQ:TSAT opened at $20.59 on Tuesday. Telesat Corporation has a twelve month low of $9.85 and a twelve month high of $29.91. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 1.69. The business has a 50 day moving average price of $23.93 and a two-hundred day moving average price of $20.07. The company has a market cap of $280.85 million, a P/E ratio of -3.91 and a beta of 2.16.

Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $77.94 million during the quarter, compared to the consensus estimate of $109.64 million.

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.

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