Gamco Investors INC. ET AL Purchases 44,785 Shares of Telesat Corporation $TSAT

Gamco Investors INC. ET AL increased its position in Telesat Corporation (NASDAQ:TSAT) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,831,693 shares of the company’s stock after purchasing an additional 44,785 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.13% of Telesat worth $53,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Telesat by 1,335.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after purchasing an additional 3,552 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Telesat by 63.3% in the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after purchasing an additional 2,473 shares during the period. Quarry LP bought a new stake in shares of Telesat in the 3rd quarter valued at about $212,000. JPMorgan Chase & Co. raised its holdings in shares of Telesat by 189.5% in the 3rd 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. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Telesat by 59.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 15,981 shares of the company’s stock valued at $426,000 after purchasing an additional 5,981 shares during the period.

Telesat Price Performance

Shares of TSAT opened at $52.01 on Monday. Telesat Corporation has a 12 month low of $15.42 and a 12 month high of $55.83. The firm’s 50 day moving average is $43.48 and its 200-day moving average is $34.12. The stock has a market capitalization of $771.83 million, a PE ratio of -5.77 and a beta of 2.02. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77.

Telesat (NASDAQ:TSAT) last announced its earnings results on Tuesday, May 5th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.67) by ($1.54). The business had revenue of $62.59 million for the quarter, compared to the consensus estimate of $62.03 million. Telesat had a negative return on equity of 4.02% and a negative net margin of 47.57%. Equities research analysts forecast that Telesat Corporation will post -3.73 EPS for the current year.

Analyst Upgrades and Downgrades

TSAT has been the topic of several research analyst reports. Zacks Research raised shares of Telesat from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Telesat from a “sell” rating to a “strong sell” rating in a report on Saturday, April 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Telesat from $19.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, March 19th. New Street Research initiated coverage on shares of Telesat in a report on Wednesday. They issued a “sell” rating and a $30.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.50.

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.