LM Asset IM Inc. bought a new stake in shares of Telesat Corp (NASDAQ:TSAT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 809,200 shares of the company's stock, valued at approximately $13,290,000. Telesat makes up about 12.2% of LM Asset IM Inc.'s portfolio, making the stock its 3rd largest position. LM Asset IM Inc. owned about 5.93% of Telesat as of its most recent SEC filing.
Several other large investors also recently modified their holdings of TSAT. Squarepoint Ops LLC acquired a new stake in shares of Telesat in the 4th quarter valued at about $552,000. Millennium Management LLC acquired a new stake in shares of Telesat in the 4th quarter valued at about $368,000. Bank of America Corp DE raised its stake in shares of Telesat by 13.7% in the 4th quarter. Bank of America Corp DE now owns 7,360 shares of the company's stock valued at $121,000 after purchasing an additional 889 shares in the last quarter. Aristeia Capital L.L.C. acquired a new stake in shares of Telesat in the 4th quarter valued at about $649,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Telesat by 12.2% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company's stock valued at $1,654,000 after purchasing an additional 10,900 shares in the last quarter.
Telesat Stock Up 2.3%
Shares of Telesat stock traded up $0.37 during trading on Wednesday, reaching $16.58. The company had a trading volume of 105,281 shares, compared to its average volume of 58,251. The company has a market cap of $226.17 million, a price-to-earnings ratio of 6.82 and a beta of 2.02. The firm's fifty day moving average is $17.14 and its 200-day moving average is $17.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36. Telesat Corp has a fifty-two week low of $7.21 and a fifty-two week high of $25.38.
Telesat (NASDAQ:TSAT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of ($0.56) by $1.09. The firm had revenue of $81.12 million for the quarter, compared to analyst estimates of $106.67 million. Telesat had a net margin of 7.99% and a negative return on equity of 3.16%.
About Telesat
(
Free Report)
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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