Telesat Corporation (NASDAQ:TSAT) Shares Sold by Platform Technology Partners

Platform Technology Partners reduced its position in Telesat Corporation (NASDAQ:TSAT) by 6.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,698 shares of the company’s stock after selling 1,000 shares during the quarter. Platform Technology Partners owned about 0.12% of Telesat worth $296,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. K.J. Harrison & Partners Inc purchased a new stake in shares of Telesat during the 1st quarter worth $474,000. LM Asset IM Inc. purchased a new stake in shares of Telesat during the 4th quarter worth $13,290,000. Squarepoint Ops LLC purchased a new stake in shares of Telesat during the 4th quarter worth $552,000. Millennium Management LLC purchased a new stake in shares of Telesat during the 4th quarter worth $368,000. Finally, Bank of America Corp DE boosted its position in shares of Telesat by 13.7% during the 4th quarter. Bank of America Corp DE now owns 7,360 shares of the company’s stock worth $121,000 after purchasing an additional 889 shares in the last quarter.

Telesat Price Performance

Shares of NASDAQ TSAT opened at $23.37 on Friday. Telesat Corporation has a one year low of $7.21 and a one year high of $27.45. The company has a debt-to-equity ratio of 1.64, a quick ratio of 5.63 and a current ratio of 5.63. The company’s fifty day moving average is $19.32 and its two-hundred day moving average is $18.66. The firm has a market capitalization of $318.77 million, a P/E ratio of -5.23 and a beta of 2.10.

Telesat (NASDAQ:TSAT) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of ($0.56) by $1.09. Telesat had a negative net margin of 16.09% and a negative return on equity of 6.83%. The business had revenue of $81.12 million for the quarter, compared to analyst estimates 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.