Vestcor Inc Purchases 50,000 Shares of Telesat Corporation $TSAT

Vestcor Inc increased its position in Telesat Corporation (NASDAQ:TSAT) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Vestcor Inc owned approximately 1.23% of Telesat worth $4,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC raised its stake in Telesat by 4.5% in the third quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock valued at $794,000 after buying an additional 1,280 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after acquiring an additional 2,473 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Telesat by 6.9% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 79,161 shares of the company’s stock valued at $1,935,000 after purchasing an additional 5,100 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Telesat by 59.8% during the third quarter. TD Waterhouse Canada Inc. now owns 15,981 shares of the company’s stock worth $426,000 after purchasing an additional 5,981 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Telesat by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 15,932 shares of the company’s stock valued at $422,000 after purchasing an additional 10,428 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Telesat Stock Performance

Shares of NASDAQ:TSAT opened at $32.81 on Tuesday. Telesat Corporation has a 12-month low of $14.77 and a 12-month high of $36.85. The company’s 50 day moving average price is $30.28 and its two-hundred day moving average price is $28.28. The firm has a market cap of $465.57 million, a PE ratio of -4.16 and a beta of 1.95. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 1.80.

About Telesat

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.