Telesat Corp (NASDAQ:TSAT) Shares Sold by Heard Capital LLC

Heard Capital LLC decreased its stake in Telesat Corp (NASDAQ:TSAT) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,754,600 shares of the company’s stock after selling 13,800 shares during the period. Telesat accounts for 1.3% of Heard Capital LLC’s portfolio, making the stock its 15th largest position. Heard Capital LLC owned approximately 12.86% of Telesat worth $23,108,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Simplify Asset Management Inc. lifted its position in shares of Telesat by 25.8% during the 2nd quarter. Simplify Asset Management Inc. now owns 365,781 shares of the company’s stock worth $3,329,000 after buying an additional 75,000 shares during the period.

Analysts Set New Price Targets

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

Telesat Stock Performance

Shares of Telesat stock opened at $13.93 on Tuesday. The business has a 50-day moving average of $12.77 and a 200 day moving average of $10.37. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.36 and a quick ratio of 4.36. The stock has a market capitalization of $190.01 million, a price-to-earnings ratio of 5.73 and a beta of 2.30. Telesat Corp has a 12 month low of $6.93 and a 12 month high of $15.02.

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.