Bank of Montreal Can lessened its stake in shares of Intelsat SA (NYSE:I) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,467 shares of the technology company’s stock after selling 791 shares during the quarter. Bank of Montreal Can’s holdings in Intelsat were worth $54,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in shares of Intelsat in the fourth quarter valued at $51,000. FDx Advisors Inc. boosted its stake in shares of Intelsat by 13.0% during the fourth quarter. FDx Advisors Inc. now owns 12,961 shares of the technology company’s stock valued at $277,000 after purchasing an additional 1,491 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Intelsat during the fourth quarter valued at $287,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Intelsat during the fourth quarter valued at $299,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Intelsat during the fourth quarter valued at $319,000. 93.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of I traded up $0.31 during mid-day trading on Monday, hitting $19.76. 1,611,664 shares of the company traded hands, compared to its average volume of 2,609,408. Intelsat SA has a 1-year low of $14.81 and a 1-year high of $37.70. The firm’s 50 day simple moving average is $19.77. The company has a market capitalization of $2.68 billion, a P/E ratio of -8.48 and a beta of 1.41.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Intelsat from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Morgan Stanley decreased their price objective on Intelsat from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, May 16th. JPMorgan Chase & Co. upgraded shares of Intelsat from a “neutral” rating to an “overweight” rating and set a $27.00 target price for the company in a report on Wednesday, April 3rd. Finally, Raymond James upgraded shares of Intelsat from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.71.
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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