15,475 Shares in Telesat Corporation $TSAT Purchased by Militia Capital Management LLC

Militia Capital Management LLC purchased a new stake in shares of Telesat Corporation (NASDAQ:TSAT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 15,475 shares of the company’s stock, valued at approximately $560,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Telesat by 32.2% during the fourth quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock valued at $85,000 after buying an additional 712 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Telesat by 1,335.3% during the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after buying an additional 3,552 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Telesat by 63.3% in the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock worth $119,000 after buying an additional 2,473 shares during the period. Virtu Financial LLC purchased a new stake in shares of Telesat in the fourth quarter worth approximately $211,000. Finally, Quarry LP bought a new stake in shares of Telesat during the 3rd quarter worth approximately $212,000.

Telesat Price Performance

Shares of TSAT opened at $39.38 on Friday. The company has a 50 day moving average price of $46.29 and a 200-day moving average price of $40.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $584.40 million, a PE ratio of -4.37 and a beta of 2.03. Telesat Corporation has a fifty-two week low of $19.59 and a fifty-two week high of $59.12.

Telesat (NASDAQ:TSAT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($1.54). Telesat had a negative net margin of 47.57% and a negative return on equity of 4.02%. The company had revenue of $62.62 million during the quarter, compared to analysts’ expectations of $62.03 million. Equities analysts predict that Telesat Corporation will post -4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TSAT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Telesat in a report on Thursday, June 18th. Scotiabank assumed coverage on Telesat in a research note on Monday, July 13th. They issued a “hold” rating on the stock. New Street Research started coverage on Telesat in a research report on Wednesday, May 13th. They set a “sell” rating and a $30.00 target price for the company. Zacks Research lowered shares of Telesat from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Stifel Nicolaus initiated coverage on shares of Telesat in a report on Thursday, July 16th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $33.50.

Telesat Company Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.