Alpine Group USVI LLC purchased a new stake in Intelsat SA (NYSE:I) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the technology company’s stock, valued at approximately $1,140,000.
A number of other large investors also recently added to or reduced their stakes in I. Aperio Group LLC bought a new stake in Intelsat in the second quarter valued at $110,000. Neo Ivy Capital Management bought a new stake in Intelsat in the second quarter valued at $188,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Intelsat in the second quarter valued at $244,000. Ipswich Investment Management Co. Inc. boosted its holdings in Intelsat by 18.2% in the second quarter. Ipswich Investment Management Co. Inc. now owns 23,830 shares of the technology company’s stock valued at $463,000 after acquiring an additional 3,670 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Intelsat by 13.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,627 shares of the technology company’s stock valued at $615,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.
Shares of I stock traded up $1.03 during mid-day trading on Friday, reaching $24.33. 129,449 shares of the company’s stock traded hands, compared to its average volume of 1,398,169. Intelsat SA has a 12 month low of $14.81 and a 12 month high of $37.70. The company has a market cap of $3.28 billion, a P/E ratio of -10.44 and a beta of 1.49. The company’s 50-day moving average price is $21.90 and its 200-day moving average price is $20.20.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Intelsat from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. JPMorgan Chase & Co. boosted their target price on shares of Intelsat from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Barclays set a $20.00 target price on shares of Intelsat and gave the company a “hold” rating in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.67.
Intelsat SA, together with its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.
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