PEAK6 Investments L.P. Acquires New Stake in Loral Space & Communications Ltd. (LORL)

PEAK6 Investments L.P. bought a new stake in Loral Space & Communications Ltd. (NASDAQ:LORL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,091 shares of the communications equipment provider’s stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. acquired a new position in shares of Loral Space & Communications Ltd. in the 2nd quarter worth approximately $207,000. UBS Group AG lifted its position in shares of Loral Space & Communications Ltd. by 20.6% in the 1st quarter. UBS Group AG now owns 7,701 shares of the communications equipment provider’s stock worth $321,000 after purchasing an additional 1,315 shares during the period. BW Gestao de Investimentos Ltda. lifted its position in shares of Loral Space & Communications Ltd. by 22.3% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 13,766 shares of the communications equipment provider’s stock worth $573,000 after purchasing an additional 2,507 shares during the period. Legal & General Group Plc lifted its position in shares of Loral Space & Communications Ltd. by 29.4% in the 1st quarter. Legal & General Group Plc now owns 15,042 shares of the communications equipment provider’s stock worth $626,000 after purchasing an additional 3,422 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Loral Space & Communications Ltd. in the 2nd quarter worth approximately $856,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ LORL traded down $0.08 during trading on Friday, hitting $47.57. The stock had a trading volume of 55,226 shares, compared to its average volume of 54,455. Loral Space & Communications Ltd. has a 12 month low of $36.85 and a 12 month high of $51.75.

Separately, BidaskClub upgraded shares of Loral Space & Communications Ltd. from a “hold” rating to a “buy” rating in a research note on Friday.

Loral Space & Communications Ltd. Profile

Loral Space & Communications Inc, a satellite communications company, provides satellite-based communications services to broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2017, the company provided satellite services to its customers through a fleet of 15 in-orbit satellites; and owns the Canadian Ka-band payload on the ViaSat-1 satellite.

Further Reading: Technical Analysis

Institutional Ownership by Quarter for Loral Space & Communications Ltd. (NASDAQ:LORL)

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