Trexquant Investment LP boosted its holdings in Telesat Corporation (NASDAQ:TSAT - Free Report) by 115.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,164 shares of the company's stock after purchasing an additional 15,613 shares during the period. Trexquant Investment LP owned approximately 0.21% of Telesat worth $549,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TSAT. Bank of America Corp DE raised its stake in shares of Telesat by 13.7% during the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company's stock valued at $121,000 after acquiring an additional 889 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Telesat during the first quarter valued at about $256,000. Millennium Management LLC purchased a new position in shares of Telesat during the fourth quarter valued at about $368,000. K.J. Harrison & Partners Inc purchased a new position in shares of Telesat during the first quarter valued at about $474,000. Finally, Squarepoint Ops LLC purchased a new stake in Telesat in the fourth quarter worth about $552,000.
Telesat Price Performance
Shares of TSAT opened at $21.98 on Tuesday. The stock has a market cap of $299.81 million, a PE ratio of -4.18 and a beta of 2.09. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.08 and a current ratio of 5.08. Telesat Corporation has a fifty-two week low of $10.10 and a fifty-two week high of $29.91. The firm's 50-day simple moving average is $23.57 and its two-hundred day simple moving average is $20.07.
Telesat (NASDAQ:TSAT - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $77.94 million for the quarter, compared to analysts' expectations of $109.64 million. Telesat had a negative net margin of 20.74% and a negative return on equity of 3.54%.
Telesat Company Profile
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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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