Gabelli Funds LLC reduced its holdings in Intelsat SA (NYSE:I) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,700 shares of the technology company’s stock after selling 4,000 shares during the quarter. Gabelli Funds LLC owned about 0.08% of Intelsat worth $2,661,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of I. Ipswich Investment Management Co. Inc. increased its holdings in shares of Intelsat by 18.2% during 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. State Board of Administration of Florida Retirement System increased its holdings in shares of Intelsat by 13.2% during 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. Hartwell J M Limited Partnership increased its holdings in shares of Intelsat by 0.8% during the second quarter. Hartwell J M Limited Partnership now owns 496,150 shares of the technology company’s stock valued at $9,650,000 after acquiring an additional 3,950 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Intelsat during the second quarter valued at approximately $110,000. Finally, Rhumbline Advisers increased its holdings in shares of Intelsat by 8.3% during the third quarter. Rhumbline Advisers now owns 107,676 shares of the technology company’s stock valued at $2,455,000 after acquiring an additional 8,268 shares in the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.
Several equities research analysts have recently commented on I shares. JPMorgan Chase & Co. boosted their price objective on Intelsat from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Barclays set a $20.00 price objective on Intelsat and gave the company a “hold” rating in a report on Friday, September 27th. Finally, Zacks Investment Research downgraded Intelsat from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Intelsat currently has an average rating of “Hold” and an average target price of $29.40.
Intelsat (NYSE:I) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported ($2.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($1.86). The company had revenue of $506.70 million during the quarter, compared to analyst estimates of $502.15 million. During the same period in the prior year, the business earned ($0.26) EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts expect that Intelsat SA will post -3.5 earnings per share for the current fiscal year.
Intelsat Company Profile
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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