Telesat Corporation $TSAT Shares Sold by Heard Capital LLC

Heard Capital LLC trimmed its holdings in shares of Telesat Corporation (NASDAQ:TSAT) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,517,710 shares of the company’s stock after selling 128,985 shares during the period. Telesat makes up about 1.9% of Heard Capital LLC’s portfolio, making the stock its 14th biggest position. Heard Capital LLC owned about 11.13% of Telesat worth $37,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PCJ Investment Counsel Ltd. raised its stake in shares of Telesat by 0.9% during the 2nd quarter. PCJ Investment Counsel Ltd. now owns 113,850 shares of the company’s stock valued at $2,768,000 after buying an additional 1,050 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Telesat by 35.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,038 shares of the company’s stock valued at $2,152,000 after acquiring an additional 22,985 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Telesat by 6.9% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 79,161 shares of the company’s stock worth $1,935,000 after purchasing an additional 5,100 shares in the last quarter. Walleye Capital LLC purchased a new stake in Telesat in the 2nd quarter worth approximately $1,814,000. Finally, Bank of America Corp DE grew its stake in shares of Telesat by 264.3% during the 2nd quarter. Bank of America Corp DE now owns 56,401 shares of the company’s stock worth $1,378,000 after purchasing an additional 40,919 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Telesat in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Telesat Price Performance

Shares of NASDAQ TSAT opened at $32.07 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 4.11 and a current ratio of 4.11. The firm has a fifty day moving average of $29.03 and a 200 day moving average of $24.89. The firm has a market cap of $455.07 million, a PE ratio of -4.06 and a beta of 2.01. Telesat Corporation has a one year low of $14.31 and a one year high of $36.85.

Telesat (NASDAQ:TSAT) last announced its earnings results on Tuesday, November 4th. The company reported ($1.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.95). Telesat had a negative net margin of 34.55% and a negative return on equity of 5.05%. The company had revenue of $72.56 million during the quarter, compared to analyst estimates of $100.26 million.

Telesat Company 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.