PCJ Investment Counsel Ltd. Makes New Investment in Telesat Corporation (NASDAQ:TSAT)

Key Points

• PCJ Investment Counsel Ltd. acquired a new stake in Telesat Corporation, purchasing 112,800 shares valued at approximately $2.1 million, representing 0.83% ownership as of the latest quarter.
• Telesat's recent earnings report revealed an EPS of $1.00, significantly beating expectations, although the company reported revenue of $77.94 million, falling short of the $109.64 million forecast.
• The company's stock opened at $22.11, with a market cap of $301.60 million and has seen a 52-week range between $7.69 and $29.91.

PCJ Investment Counsel Ltd. bought a new stake in Telesat Corporation (NASDAQ:TSAT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 112,800 shares of the company's stock, valued at approximately $2,103,000. PCJ Investment Counsel Ltd. owned approximately 0.83% of Telesat at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LM Asset IM Inc. purchased a new position in shares of Telesat in the fourth quarter valued at approximately $13,290,000. Vestcor Inc purchased a new position in shares of Telesat in the first quarter valued at approximately $2,354,000. Dakota Wealth Management purchased a new position in shares of Telesat in the first quarter valued at approximately $1,898,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Telesat by 12.2% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company's stock valued at $1,654,000 after acquiring an additional 10,900 shares in the last quarter. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Telesat in the fourth quarter valued at approximately $649,000.

Telesat Price Performance

Shares of NASDAQ TSAT traded up $1.08 during midday trading on Tuesday, hitting $22.08. The stock had a trading volume of 50,968 shares, compared to its average volume of 94,966. Telesat Corporation has a 1 year low of $8.00 and a 1 year 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 company has a market capitalization of $301.20 million, a PE ratio of -4.18 and a beta of 2.16. The stock has a 50 day simple moving average of $23.02 and a 200-day simple moving average of $19.89.

Telesat (NASDAQ:TSAT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.00 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $109.64 million.

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.