Dynamic Technology Lab Private Ltd bought a new stake in Intelsat SA (NYSE:I) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 42,164 shares of the technology company’s stock, valued at approximately $702,000.
A number of other hedge funds have also recently made changes to their positions in I. JPMorgan Chase & Co. raised its stake in Intelsat by 19,421.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,532,258 shares of the technology company’s stock valued at $5,761,000 after purchasing an additional 1,524,409 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in Intelsat in the 2nd quarter valued at about $12,196,000. Renaissance Technologies LLC grew its holdings in Intelsat by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,640,400 shares of the technology company’s stock valued at $27,329,000 after buying an additional 240,800 shares during the period. BlackRock Inc. grew its holdings in Intelsat by 11.0% in the 2nd quarter. BlackRock Inc. now owns 1,908,355 shares of the technology company’s stock valued at $31,793,000 after buying an additional 188,809 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Intelsat by 130.8% in the 1st quarter. Citadel Advisors LLC now owns 327,215 shares of the technology company’s stock valued at $1,230,000 after buying an additional 185,444 shares during the period. 50.47% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:I traded down $0.06 during trading on Friday, reaching $33.37. 3,010,143 shares of the stock were exchanged, compared to its average volume of 2,780,027. The company has a debt-to-equity ratio of -3.79, a quick ratio of 1.21 and a current ratio of 1.21. Intelsat SA has a 12-month low of $2.44 and a 12-month high of $34.26. The stock has a market capitalization of $4.09 billion, a P/E ratio of -19.63 and a beta of 0.99.
Intelsat (NYSE:I) last issued its earnings results on Tuesday, July 31st. The technology company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.14. The firm had revenue of $537.70 million for the quarter, compared to analysts’ expectations of $528.50 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Intelsat SA will post -1.55 earnings per share for the current year.
Several analysts have commented on the company. Royal Bank of Canada upgraded Intelsat from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 20th. Zacks Investment Research cut Intelsat from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group set a $32.00 price target on Intelsat and gave the company a “buy” rating in a report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.80.
Intelsat SA, through its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.
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