Trexquant Investment LP boosted its stake in Telesat Corporation (NASDAQ:TSAT - Free Report) by 115.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,164 shares of the company's stock after purchasing an additional 15,613 shares during the period. Trexquant Investment LP owned about 0.21% of Telesat worth $549,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. LM Asset IM Inc. purchased a new stake in Telesat during the fourth quarter valued at $13,290,000. Vestcor Inc purchased a new position in Telesat during the 1st quarter worth $2,354,000. Squarepoint Ops LLC purchased a new position in shares of Telesat in the 4th quarter valued at $552,000. Bank of America Corp DE increased its holdings 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 acquiring an additional 889 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Telesat in the 1st quarter worth $256,000.
Telesat Stock Performance
Shares of NASDAQ TSAT traded up $0.41 during trading on Friday, reaching $22.34. 45,992 shares of the company traded hands, compared to its average volume of 71,461. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 1.69. Telesat Corporation has a 12-month low of $10.11 and a 12-month high of $29.91. The firm's fifty day simple moving average is $23.25 and its 200 day simple moving average is $20.15. The stock has a market cap of $304.72 million, a P/E ratio of -4.25 and a beta of 2.08.
Telesat (NASDAQ:TSAT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.00 earnings per share for the quarter, topping 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 business had revenue of $77.94 million for the quarter, compared to analysts' expectations of $109.64 million.
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.
Featured Stories
Before you consider Telesat, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Telesat wasn't on the list.
While Telesat currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
