LM Asset IM Inc. Acquires New Position in Telesat Corp (NASDAQ:TSAT)

LM Asset IM Inc. acquired a new position in shares of Telesat Corp (NASDAQ:TSAT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 809,200 shares of the company's stock, valued at approximately $13,290,000. Telesat makes up 12.2% of LM Asset IM Inc.'s holdings, making the stock its 3rd largest position. LM Asset IM Inc. owned about 5.93% of Telesat as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TSAT. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Telesat by 12.2% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company's stock worth $1,654,000 after acquiring an additional 10,900 shares during the last quarter. Aristeia Capital L.L.C. acquired a new position in shares of Telesat during the fourth quarter worth approximately $649,000. Squarepoint Ops LLC bought a new stake in shares of Telesat during the fourth quarter valued at approximately $552,000. Millennium Management LLC bought a new stake in shares of Telesat during the fourth quarter valued at approximately $368,000. Finally, Trexquant Investment LP acquired a new stake in shares of Telesat in the fourth quarter valued at approximately $223,000.

Telesat Trading Up 3.4%

NASDAQ:TSAT traded up $0.54 during trading hours on Tuesday, hitting $16.21. 51,933 shares of the stock were exchanged, compared to its average volume of 58,062. The company has a market capitalization of $221.12 million, a P/E ratio of 6.67 and a beta of 2.02. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 1.11. The company's 50 day moving average is $17.25 and its two-hundred day moving average is $17.17. Telesat Corp has a twelve month low of $7.21 and a twelve month high of $25.38.

Telesat (NASDAQ:TSAT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $1.09. The company had revenue of $81.12 million during the quarter, compared to the consensus estimate of $106.67 million. Telesat had a negative return on equity of 3.16% and a net margin of 7.99%.

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.