Polar Asset Management Partners Inc. Acquires 47,725 Shares of Telesat Corporation $TSAT

Polar Asset Management Partners Inc. boosted its holdings in shares of Telesat Corporation (NASDAQ:TSAT) by 83.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,225 shares of the company’s stock after purchasing an additional 47,725 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.74% of Telesat worth $2,779,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TSAT. K.J. Harrison & Partners Inc lifted its holdings in shares of Telesat by 128.3% in the third quarter. K.J. Harrison & Partners Inc now owns 58,000 shares of the company’s stock worth $1,609,000 after buying an additional 32,600 shares in the last quarter. Vestcor Inc lifted its stake in Telesat by 40.0% in the 3rd quarter. Vestcor Inc now owns 175,000 shares of the company’s stock worth $4,638,000 after purchasing an additional 50,000 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Telesat during the 2nd quarter valued at about $1,814,000. TD Waterhouse Canada Inc. purchased a new position in shares of Telesat during the second quarter valued at about $248,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Telesat by 4.5% in the third quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock worth $794,000 after purchasing an additional 1,280 shares during the last quarter.

Telesat Trading Down 1.8%

Shares of NASDAQ TSAT opened at $39.68 on Friday. Telesat Corporation has a 1-year low of $14.77 and a 1-year high of $43.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.25 and a quick ratio of 4.11. The business’s 50 day moving average is $31.40 and its two-hundred day moving average is $29.08. The stock has a market capitalization of $563.06 million, a P/E ratio of -5.25 and a beta of 1.95.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSAT shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $37.00.

Telesat Company 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.