Heard Capital LLC Has $23.11 Million Stake in Telesat Corp (NASDAQ:TSAT)

Heard Capital LLC lessened its stake in shares of Telesat Corp (NASDAQ:TSAT) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,754,600 shares of the company’s stock after selling 13,800 shares during the period. Telesat accounts for about 1.3% of Heard Capital LLC’s holdings, making the stock its 15th biggest holding. Heard Capital LLC owned 0.13% of Telesat worth $23,108,000 as of its most recent SEC filing.

Separately, Simplify Asset Management Inc. lifted its stake in 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 buying an additional 75,000 shares during the period.

Telesat Price Performance

Shares of NASDAQ TSAT opened at $13.93 on Tuesday. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 1.11. Telesat Corp has a twelve month low of $6.93 and a twelve month high of $15.02. The stock has a market cap of $190.01 million, a P/E ratio of 5.73 and a beta of 2.30. The stock has a 50 day moving average of $12.77 and a two-hundred day moving average of $10.37.

Analyst Upgrades and Downgrades

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

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.