Gamco Investors INC. ET AL Has $18.23 Million Stock Holdings in Telesat Corp (NASDAQ:TSAT)

Gamco Investors INC. ET AL raised its stake in shares of Telesat Corp (NASDAQ:TSAT) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,139,479 shares of the company’s stock after purchasing an additional 18,251 shares during the quarter. Gamco Investors INC. ET AL owned 16.70% of Telesat worth $18,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Telesat in the 1st quarter valued at $51,000. National Bank of Canada FI boosted its stake in shares of Telesat by 6,039.8% in the 4th quarter. National Bank of Canada FI now owns 6,324 shares of the company’s stock valued at $66,000 after purchasing an additional 6,221 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Telesat in the 4th quarter worth about $206,000. Garnet Equity Capital Holdings Inc. increased its position in shares of Telesat by 27.7% during the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 101,314 shares of the company’s stock worth $1,057,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Heard Capital LLC lifted its holdings in Telesat by 1.1% during 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 during the last quarter.

Wall Street Analysts Forecast Growth

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

Telesat Price Performance

TSAT stock traded up $0.27 during midday trading on Friday, reaching $8.31. 15,602 shares of the company’s stock traded hands, compared to its average volume of 22,706. The company has a quick ratio of 11.69, a current ratio of 11.69 and a debt-to-equity ratio of 1.34. The company has a market cap of $113.35 million, a price-to-earnings ratio of 1.16 and a beta of 2.25. The company has a 50-day simple moving average of $8.61 and a two-hundred day simple moving average of $8.69. Telesat Corp has a 1-year low of $6.93 and a 1-year high of $22.75.

Telesat (NASDAQ:TSAT) last announced its earnings results on Friday, May 10th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). Telesat had a negative return on equity of 2.57% and a net margin of 20.08%. The company had revenue of $112.88 million during the quarter, compared to analyst estimates of $107.27 million. On average, analysts anticipate that Telesat Corp will post -6.73 earnings per share for the current 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.