Gabelli Funds LLC Sells 122,167 Shares of Telesat Corp (NASDAQ:TSAT)

Gabelli Funds LLC trimmed its position in shares of Telesat Corp (NASDAQ:TSAT) by 11.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 902,353 shares of the company’s stock after selling 122,167 shares during the period. Gabelli Funds LLC owned approximately 6.62% of Telesat worth $8,211,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSAT. Gamco Investors INC. ET AL boosted its position in shares of Telesat by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,139,479 shares of the company’s stock worth $18,228,000 after acquiring an additional 18,251 shares in the last quarter. Heard Capital LLC boosted its holdings in shares of Telesat by 1.1% in the 4th 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. Simplify Asset Management Inc. increased its stake in shares of Telesat by 25.8% in the 2nd quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company’s stock valued at $3,329,000 after purchasing an additional 75,000 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Telesat during the 4th quarter worth $206,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Telesat during the 1st quarter worth $51,000.

Telesat Stock Performance

NASDAQ:TSAT opened at $12.15 on Tuesday. The company has a quick ratio of 6.13, a current ratio of 6.13 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $165.74 million, a PE ratio of 1.69 and a beta of 2.29. Telesat Corp has a twelve month low of $6.93 and a twelve month high of $15.31. The stock’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $8.79.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($5.34). The company had revenue of $111.41 million during the quarter, compared to analyst estimates of $106.82 million. Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. On average, analysts anticipate that Telesat Corp will post 0.87 EPS for the current fiscal year.

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.