Renaissance Technologies LLC Has $261,000 Holdings in Telesat Corp (NASDAQ:TSAT)

Renaissance Technologies LLC decreased its position in Telesat Corp (NASDAQ:TSAT) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 28,700 shares of the company’s stock after selling 2,800 shares during the period. Renaissance Technologies LLC’s holdings in Telesat were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in Telesat in the 4th quarter valued at $206,000. Gamco Investors INC. ET AL boosted its position in shares of Telesat by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company’s stock valued at $18,228,000 after acquiring an additional 18,251 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Telesat in the first quarter valued at about $51,000.

Wall Street Analyst Weigh In

Separately, Cormark raised shares of Telesat to a “moderate buy” rating in a report on Friday, September 20th.

Telesat Price Performance

Shares of NASDAQ TSAT opened at $13.68 on Friday. The business has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $9.13. The stock has a market capitalization of $186.61 million, a PE ratio of 1.91 and a beta of 2.30. The company has a debt-to-equity ratio of 1.15, a current ratio of 6.13 and a quick ratio of 6.13. Telesat Corp has a fifty-two week low of $6.93 and a fifty-two week high of $13.84.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing the consensus estimate of $2.47 by ($5.34). Telesat had a negative return on equity of 5.90% and a net margin of 4.59%. The firm had revenue of $111.41 million for the quarter, compared to the consensus estimate of $106.82 million. As a group, equities analysts predict that Telesat Corp will post -0.06 earnings per share 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.