Telesat Corp (NASDAQ:TSAT) Stake Lifted by Garnet Equity Capital Holdings Inc.

Garnet Equity Capital Holdings Inc. increased its position in shares of Telesat Corp (NASDAQ:TSAT) by 27.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,314 shares of the company’s stock after purchasing an additional 22,000 shares during the period. Telesat accounts for about 0.3% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 18th largest holding. Garnet Equity Capital Holdings Inc. owned 0.79% of Telesat worth $1,057,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its holdings in Telesat by 12.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,012,559 shares of the company’s stock valued at $28,780,000 after acquiring an additional 215,581 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Telesat by 3.6% during the third quarter. Gabelli Funds LLC now owns 1,076,795 shares of the company’s stock worth $15,398,000 after buying an additional 37,855 shares in the last quarter. Tejara Capital Ltd grew its position in Telesat by 1.6% in the third quarter. Tejara Capital Ltd now owns 139,971 shares of the company’s stock worth $2,002,000 after buying an additional 2,253 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Telesat in the third quarter valued at $738,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Telesat during the 3rd quarter valued at $406,000.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft started coverage on Telesat in a report on Tuesday. They issued a “hold” rating and a $9.00 target price on the stock.

Telesat Trading Up 3.9 %

NASDAQ TSAT traded up $0.28 on Thursday, hitting $7.38. 18,625 shares of the company were exchanged, compared to its average volume of 32,600. Telesat Corp has a twelve month low of $6.90 and a twelve month high of $22.75. The company’s 50 day moving average price is $8.44 and its 200-day moving average price is $9.71. The firm has a market capitalization of $94.54 million, a P/E ratio of 0.85 and a beta of 2.11. The company has a debt-to-equity ratio of 1.34, a current ratio of 13.19 and a quick ratio of 13.19.

Telesat (NASDAQ:TSAT) last released its quarterly earnings results on Thursday, March 28th. The company reported $0.22 earnings per share (EPS) for the quarter. Telesat had a net margin of 22.44% and a negative return on equity of 1.72%. The business had revenue of $121.87 million for the quarter.

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.