LM Asset IM Inc. Buys Shares of 809,200 Telesat Corp (NASDAQ:TSAT)

LM Asset IM Inc. bought a new position in shares of Telesat Corp (NASDAQ:TSAT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 809,200 shares of the company’s stock, valued at approximately $13,290,000. Telesat comprises 12.2% of LM Asset IM Inc.’s holdings, making the stock its 3rd largest holding. LM Asset IM Inc. owned approximately 5.93% of Telesat as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of TSAT. JPMorgan Chase & Co. boosted its position in shares of Telesat by 1,395.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock worth $43,000 after purchasing an additional 2,456 shares in the last quarter. Trexquant Investment LP acquired a new stake in Telesat during the 4th quarter worth $223,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Telesat by 12.2% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 100,611 shares of the company’s stock worth $1,654,000 after acquiring an additional 10,900 shares in the last quarter. Aristeia Capital L.L.C. acquired a new position in Telesat in the fourth quarter valued at about $649,000. Finally, Bank of America Corp DE grew its stake in Telesat by 13.7% in the fourth quarter. Bank of America Corp DE now owns 7,360 shares of the company’s stock valued at $121,000 after acquiring an additional 889 shares during the period.

Telesat Stock Down 0.2%

Shares of Telesat stock opened at $15.67 on Friday. The company has a market capitalization of $213.75 million, a P/E ratio of 6.45 and a beta of 2.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.36 and a quick ratio of 4.36. The business has a 50-day moving average of $17.38 and a two-hundred day moving average of $17.06. Telesat Corp has a 1 year low of $7.21 and a 1 year high of $25.38.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $1.09. The business had revenue of $81.12 million during the quarter, compared to analyst estimates of $106.67 million. Telesat had a negative return on equity of 3.16% and a net margin of 7.99%.

About Telesat

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.