Key Square Capital Management LLC boosted its stake in Intelsat SA (NYSE:I) by 108.3% in the second quarter, Holdings Channel reports. The fund owned 1,381,040 shares of the technology company’s stock after buying an additional 718,187 shares during the quarter. Intelsat makes up about 9.8% of Key Square Capital Management LLC’s holdings, making the stock its 4th biggest holding. Key Square Capital Management LLC’s holdings in Intelsat were worth $26,861,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Aperio Group LLC acquired a new stake in shares of Intelsat during the second quarter valued at about $110,000. Wilbanks Smith & Thomas Asset Management LLC purchased a new position in shares of Intelsat during the 2nd quarter valued at approximately $244,000. SG Americas Securities LLC acquired a new stake in shares of Intelsat during the first quarter worth approximately $300,000. Ipswich Investment Management Co. Inc. grew its position in shares of Intelsat by 18.2% during the second quarter. Ipswich Investment Management Co. Inc. now owns 23,830 shares of the technology company’s stock worth $463,000 after buying an additional 3,670 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of Intelsat during the first quarter worth approximately $412,000. 90.80% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. Zacks Investment Research cut shares of Intelsat from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Morgan Stanley reduced their price objective on shares of Intelsat from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Intelsat currently has an average rating of “Hold” and a consensus price target of $29.33.
Intelsat stock traded up $1.13 during midday trading on Wednesday, hitting $22.09. The stock had a trading volume of 111,864 shares, compared to its average volume of 1,429,484. The business has a fifty day moving average price of $20.43 and a 200 day moving average price of $19.68. Intelsat SA has a 12 month low of $14.81 and a 12 month high of $37.70. The stock has a market cap of $2.90 billion, a P/E ratio of -9.42 and a beta of 1.50.
Intelsat (NYSE:I) last issued its earnings results on Tuesday, July 30th. The technology company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.10). The firm had revenue of $509.40 million during the quarter, compared to the consensus estimate of $500.08 million. During the same period last year, the firm posted ($0.38) EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Intelsat SA will post -2.25 EPS for the current fiscal year.
Intelsat Company Profile
Intelsat SA, together with 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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