Quadrature Capital Ltd Purchases New Stake in Telesat Corp (NASDAQ:TSAT)

Quadrature Capital Ltd purchased a new stake in Telesat Corp (NASDAQ:TSAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,743 shares of the company’s stock, valued at approximately $206,000. Quadrature Capital Ltd owned 0.15% of Telesat at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TSAT. Acadian Asset Management LLC bought a new position in Telesat during the 3rd quarter worth $738,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Telesat during the 3rd quarter worth $406,000. Garnet Equity Capital Holdings Inc. increased its position in Telesat by 27.7% during the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 101,314 shares of the company’s stock worth $1,057,000 after buying an additional 22,000 shares during the period. Heard Capital LLC increased its position in Telesat by 1.1% during the 4th quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock worth $18,553,000 after buying an additional 19,815 shares during the period. Finally, National Bank of Canada FI increased its position in Telesat by 6,039.8% during the 4th quarter. National Bank of Canada FI now owns 6,324 shares of the company’s stock worth $66,000 after buying an additional 6,221 shares during the period.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft began coverage on Telesat in a research report on Tuesday, April 30th. They set a “hold” rating and a $9.00 price objective on the stock.

Telesat Stock Performance

TSAT opened at $7.91 on Friday. The firm has a market cap of $107.89 million, a P/E ratio of 1.10 and a beta of 2.25. Telesat Corp has a 52-week low of $6.93 and a 52-week high of $22.75. The company has a debt-to-equity ratio of 1.34, a quick ratio of 11.69 and a current ratio of 11.69. The business’s fifty day moving average is $8.24 and its 200-day moving average is $8.95.

Telesat (NASDAQ:TSAT) last released its earnings results on Friday, May 10th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $112.88 million for the quarter, compared to analyst estimates of $107.27 million. Telesat had a negative return on equity of 2.57% and a net margin of 20.08%. Sell-side analysts expect that Telesat Corp will post -6.73 EPS for the current fiscal year.

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.