Platform Technology Partners Sells 10,462 Shares of Telesat Corp (NASDAQ:TSAT)

Platform Technology Partners reduced its stake in Telesat Corp (NASDAQ:TSATFree Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,730 shares of the company’s stock after selling 10,462 shares during the period. Platform Technology Partners owned 0.33% of Telesat worth $416,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Telesat during the third quarter valued at approximately $738,000. Gabelli Funds LLC increased its stake in shares of Telesat by 3.6% during the third quarter. Gabelli Funds LLC now owns 1,076,795 shares of the company’s stock valued at $15,398,000 after purchasing an additional 37,855 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Telesat during the third quarter valued at approximately $406,000. Garnet Equity Capital Holdings Inc. increased its stake in shares of Telesat by 27.7% during the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 101,314 shares of the company’s stock valued at $1,057,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Heard Capital LLC increased its stake in shares of Telesat by 1.1% during the fourth quarter. Heard Capital LLC now owns 1,778,837 shares of the company’s stock valued at $18,553,000 after purchasing an additional 19,815 shares in the last quarter.

Telesat Stock Down 5.2 %

Shares of NASDAQ:TSAT traded down $0.52 during trading on Friday, reaching $9.47. 25,089 shares of the stock traded hands, compared to its average volume of 42,169. The stock has a 50-day moving average of $8.15 and a two-hundred day moving average of $9.25. 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 stock has a market cap of $128.89 million, a P/E ratio of 1.32 and a beta of 2.25.

Telesat (NASDAQ:TSATGet Free Report) last posted its quarterly earnings results on Friday, May 10th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). Telesat had a net margin of 20.08% and a negative return on equity of 2.57%. The firm had revenue of $112.88 million for the quarter, compared to analysts’ expectations of $107.27 million. As a group, sell-side analysts expect that Telesat Corp will post -6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Telesat in a research note on Tuesday, April 30th. They set a “hold” rating and a $9.00 target price for the company.

View Our Latest Stock Report on TSAT

About Telesat

(Free Report)

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.

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Institutional Ownership by Quarter for Telesat (NASDAQ:TSAT)

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