Gabelli Funds LLC Buys 33,273 Shares of Telesat Corp (NASDAQ:TSAT)

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

Several other hedge funds have also bought and sold shares of the stock. Algert Global LLC purchased a new position in shares of Telesat in the third quarter valued at about $90,000. Vident Investment Advisory LLC lifted its position in shares of Telesat by 71.1% in the first quarter. Vident Investment Advisory LLC now owns 12,819 shares of the company’s stock valued at $212,000 after acquiring an additional 5,328 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Telesat in the fourth quarter valued at about $99,000. Trexquant Investment LP lifted its position in shares of Telesat by 43.4% in the third quarter. Trexquant Investment LP now owns 25,086 shares of the company’s stock valued at $196,000 after acquiring an additional 7,593 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Telesat in the first quarter valued at about $416,000.

Telesat Price Performance

NASDAQ:TSAT opened at $11.64 on Tuesday. 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 company has a market capitalization of $149.05 million, a P/E ratio of 1.27 and a beta of 2.10. Telesat Corp has a 12 month low of $6.00 and a 12 month high of $22.75. The business’s 50-day moving average is $12.72 and its 200 day moving average is $11.56.

Analyst Ratings Changes

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

Telesat Profile

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.