PCJ Investment Counsel Ltd. Makes New $2.10 Million 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. acquired a new position in shares of Telesat Corporation (NASDAQ:TSAT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSAT. Bank of America Corp DE grew its holdings in 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 buying an additional 889 shares during the period. JPMorgan Chase & Co. grew its holdings in Telesat by 1,395.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company's stock valued at $43,000 after buying an additional 2,456 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in 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 buying an additional 10,900 shares during the period. Trexquant Investment LP purchased a new stake in Telesat in the 4th quarter valued at about $223,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Telesat in the 1st quarter valued at about $256,000.

Telesat Trading Down 5.0%

TSAT traded down $1.10 during midday trading on Friday, hitting $21.01. The company's stock had a trading volume of 99,367 shares, compared to its average volume of 126,184. The company has a current ratio of 5.08, a quick ratio of 5.63 and a debt-to-equity ratio of 1.69. The firm has a market cap of $286.58 million, a P/E ratio of -3.99 and a beta of 2.16. The firm has a 50-day moving average price of $22.92 and a two-hundred day moving average price of $19.85. Telesat Corporation has a 52-week low of $7.85 and a 52-week high of $29.91.

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 company had revenue of $77.94 million during the quarter, compared to analysts' expectations 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.