Van Berkom & Associates Inc. Invests $991,000 in Telesat Corporation $TSAT

Key Points

• Van Berkom & Associates opened a new position in Telesat, buying 27,492 shares worth about $991,000 in the first quarter and representing 0.19% of the company.
• Other institutional investors have also been active in Telesat, with several funds notably increasing their stakes, including Gamco, PenderFund, Vestcor, Senvest, and Millennium.
• Analyst sentiment remains cautious overall: Telesat has an average rating of "Reduce" and a consensus price target of $33.50, while the stock recently traded at $36.38 after a weak earnings report that missed EPS estimates.

Van Berkom & Associates Inc. purchased a new stake in Telesat Corporation (NASDAQ:TSAT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,492 shares of the company's stock, valued at approximately $991,000. Van Berkom & Associates Inc. owned 0.19% of Telesat as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its stake in Telesat by 2.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,831,693 shares of the company's stock valued at $53,302,000 after acquiring an additional 44,785 shares in the last quarter. PenderFund Capital Management Ltd. increased its holdings in shares of Telesat by 307.3% during the 3rd quarter. PenderFund Capital Management Ltd. now owns 409,753 shares of the company's stock valued at $10,512,000 after acquiring an additional 309,153 shares during the last quarter. Vestcor Inc lifted its holdings in Telesat by 14.3% in the 4th quarter. Vestcor Inc now owns 200,000 shares of the company's stock worth $5,820,000 after purchasing an additional 25,000 shares during the last quarter. Senvest Management LLC lifted its stake in shares of Telesat by 261.5% in the fourth quarter. Senvest Management LLC now owns 134,668 shares of the company's stock worth $3,919,000 after buying an additional 97,411 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Telesat by 245.4% during the fourth quarter. Millennium Management LLC now owns 128,472 shares of the company's stock valued at $3,739,000 after acquiring an additional 91,272 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSAT shares. New Street Research initiated coverage on Telesat in a research report on Wednesday, May 13th. They issued a "sell" rating and a $30.00 price objective for the company. Scotiabank assumed coverage on shares of Telesat in a research note on Monday, July 13th. They issued a "hold" rating on the stock. Wall Street Zen lowered Telesat from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 25th. Zacks Research cut shares of Telesat from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, Stifel Nicolaus started coverage on Telesat in a research note on Thursday. They issued a "buy" rating for the company. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $33.50.

Telesat Price Performance

Shares of NASDAQ:TSAT opened at $36.38 on Monday. The company has a market capitalization of $539.88 million, a PE ratio of -4.03 and a beta of 2.03. Telesat Corporation has a 52 week low of $19.59 and a 52 week high of $59.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.25. The company has a 50 day moving average price of $47.51 and a two-hundred day moving average price of $40.13.

Telesat (NASDAQ:TSAT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The business had revenue of $62.62 million during the quarter, compared to analyst estimates of $62.03 million. Analysts forecast that Telesat Corporation will post -4.01 earnings per share for the current year.

Telesat Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat's infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.

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