Platform Technology Partners Trims Stake in Telesat Corp (NASDAQ:TSAT)

Platform Technology Partners cut its position in shares of Telesat Corp (NASDAQ:TSAT) by 36.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,607 shares of the company’s stock after selling 10,057 shares during the period. Platform Technology Partners owned about 0.13% of Telesat worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Simplify Asset Management Inc. raised its holdings in shares of Telesat by 25.8% in the second quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company’s stock valued at $3,329,000 after acquiring an additional 75,000 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Cormark upgraded shares of Telesat to a “moderate buy” rating in a report on Friday, September 20th.

Telesat Stock Down 1.3 %

Shares of NASDAQ TSAT opened at $11.90 on Wednesday. Telesat Corp has a 12-month low of $6.93 and a 12-month high of $15.02. The stock’s fifty day simple moving average is $12.41 and its two-hundred day simple moving average is $9.92. The stock has a market capitalization of $162.32 million, a PE ratio of 8.10 and a beta of 2.30. The company has a current ratio of 6.13, a quick ratio of 6.13 and a debt-to-equity ratio of 1.15.

Telesat (NASDAQ:TSAT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($2.87) earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($5.34). Telesat had a net margin of 4.59% and a negative return on equity of 5.90%. The company had revenue of $111.41 million for the quarter, compared to the consensus estimate of $106.82 million. As a group, analysts expect that Telesat Corp will post -0.06 EPS for the current fiscal year.

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.