Bank of America Corp DE Acquires 889 Shares of Telesat Corp (NASDAQ:TSAT)

Bank of America Corp DE lifted its holdings in shares of Telesat Corp (NASDAQ:TSAT) by 13.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,360 shares of the company’s stock after acquiring an additional 889 shares during the period. Bank of America Corp DE owned approximately 0.05% of Telesat worth $121,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Telesat by 1,395.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,632 shares of the company’s stock worth $43,000 after acquiring an additional 2,456 shares during the period. Trexquant Investment LP bought a new position in shares of Telesat during the 4th quarter worth about $223,000. Aristeia Capital L.L.C. bought a new position in shares of Telesat during the 4th quarter worth about $649,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Telesat by 12.2% during the 4th 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 during the period.

Telesat Price Performance

NASDAQ:TSAT opened at $17.67 on Tuesday. The company has a 50-day moving average of $16.52 and a 200-day moving average of $17.62. The company has a market capitalization of $241.04 million, a price-to-earnings ratio of 7.27 and a beta of 1.98. Telesat Corp has a 52 week low of $7.21 and a 52 week high of $25.38. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.36 and a current ratio of 4.36.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings results 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. Telesat had a net margin of 7.99% and a negative return on equity of 3.16%. The firm had revenue of $81.12 million during the quarter, compared to the consensus estimate of $106.67 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.