Gabelli Funds LLC Increases Stake in Telesat Corp (NASDAQ:TSAT)

Gabelli Funds LLC grew its stake in Telesat Corp (NASDAQ:TSAT) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,038,940 shares of the company’s stock after buying an additional 33,273 shares during the quarter. Gabelli Funds LLC owned 8.11% of Telesat worth $9,787,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC purchased a new stake in Telesat during the third quarter worth approximately $90,000. Jefferies Financial Group Inc. purchased a new stake in Telesat during the fourth quarter worth approximately $99,000. Trexquant Investment LP lifted its stake in Telesat by 43.4% during the third quarter. Trexquant Investment LP now owns 25,086 shares of the company’s stock worth $196,000 after purchasing an additional 7,593 shares during the last quarter. Vident Investment Advisory LLC lifted its stake in Telesat by 71.1% during the first quarter. Vident Investment Advisory LLC now owns 12,819 shares of the company’s stock worth $212,000 after purchasing an additional 5,328 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Telesat by 208.9% during the third quarter. Renaissance Technologies LLC now owns 31,200 shares of the company’s stock worth $244,000 after purchasing an additional 21,100 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, TheStreet raised Telesat from a “d” rating to a “c-” rating in a research report on Friday, August 11th.

Telesat Trading Up 0.5 %

NASDAQ:TSAT opened at $11.64 on Tuesday. The firm has a market cap of $149.05 million, a P/E ratio of 1.27 and a beta of 2.10. The company has a current ratio of 9.01, a quick ratio of 9.01 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $12.72 and its 200-day simple moving average is $11.56. Telesat Corp has a 12-month low of $6.00 and a 12-month high of $22.75.

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.