Penserra Capital Management LLC Takes $701,000 Position in Telesat Corporation $TSAT

Penserra Capital Management LLC acquired a new stake in Telesat Corporation (NASDAQ:TSAT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,715 shares of the company’s stock, valued at approximately $701,000. Penserra Capital Management LLC owned 0.21% of Telesat at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSAT. Militia Capital Partners LP acquired a new stake in shares of Telesat during the first quarter valued at about $728,000. Acadian Asset Management LLC boosted its position in shares of Telesat by 63.3% during the 1st quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after purchasing an additional 2,473 shares during the period. Flaharty Asset Management LLC acquired a new stake in Telesat in the 1st quarter valued at approximately $188,000. PDT Partners LLC purchased a new stake in Telesat in the first quarter valued at approximately $200,000. Finally, Trexquant Investment LP lifted its stake in Telesat by 115.2% during the first quarter. Trexquant Investment LP now owns 29,164 shares of the company’s stock worth $549,000 after purchasing an additional 15,613 shares in the last quarter.

Telesat Stock Performance

Shares of TSAT stock opened at $26.06 on Wednesday. The firm has a 50 day moving average of $27.90 and a two-hundred day moving average of $23.27. The stock has a market capitalization of $369.87 million, a PE ratio of -4.95 and a beta of 2.06. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 1.69. Telesat Corporation has a 52 week low of $10.11 and a 52 week high of $36.85.

Telesat (NASDAQ:TSAT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.95). The company had revenue of $72.56 million for the quarter, compared to analysts’ expectations of $100.26 million. Telesat had a negative return on equity of 3.54% and a negative net margin of 20.74%. Telesat has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Telesat in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

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.