California Public Employees Retirement System lessened its holdings in Intelsat SA (NYSE:I) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,440 shares of the technology company’s stock after selling 23,902 shares during the quarter. California Public Employees Retirement System owned 0.13% of Intelsat worth $2,747,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of I. Quantamental Technologies LLC bought a new position in Intelsat in the 4th quarter valued at approximately $51,000. Howe & Rusling Inc. bought a new position in Intelsat in the 1st quarter valued at approximately $271,000. FDx Advisors Inc. raised its holdings in Intelsat by 13.0% in the 4th quarter. FDx Advisors Inc. now owns 12,961 shares of the technology company’s stock valued at $277,000 after buying an additional 1,491 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Intelsat in the 4th quarter valued at approximately $287,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Intelsat in the 4th quarter valued at approximately $299,000. 93.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on I. Raymond James raised shares of Intelsat from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 6th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Intelsat from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 price objective (down previously from $28.00) on shares of Intelsat in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised shares of Intelsat from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.71.
Intelsat (NYSE:I) last released its earnings results on Tuesday, April 30th. The technology company reported ($0.87) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.26). The firm had revenue of $528.40 million during the quarter, compared to the consensus estimate of $523.74 million. During the same quarter last year, the firm earned ($0.56) EPS. Intelsat’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts predict that Intelsat SA will post -2.89 earnings per share for the current 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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