Gabelli Funds LLC Reduces Stake in Intelsat SA (NYSE:I)

Gabelli Funds LLC decreased its stake in shares of Intelsat SA (NYSE:I) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 116,700 shares of the technology company’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in Intelsat were worth $2,661,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds also recently modified their holdings of I. FMR LLC purchased a new stake in Intelsat during the 1st quarter worth about $1,277,000. Ipswich Investment Management Co. Inc. increased its stake in Intelsat by 18.2% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 23,830 shares of the technology company’s stock worth $463,000 after acquiring an additional 3,670 shares during the last quarter. First Trust Advisors LP bought a new position in Intelsat in the 2nd quarter worth about $635,000. Aperio Group LLC bought a new position in Intelsat in the 2nd quarter worth about $110,000. Finally, Hartwell J M Limited Partnership increased its stake in Intelsat by 0.8% in the 2nd quarter. Hartwell J M Limited Partnership now owns 496,150 shares of the technology company’s stock worth $9,650,000 after acquiring an additional 3,950 shares during the last quarter. 90.92% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on I. Zacks Investment Research lowered Intelsat from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Barclays set a $20.00 target price on Intelsat and gave the stock a “hold” rating in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on Intelsat from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.40.

NYSE I traded down $0.45 during trading on Friday, reaching $23.92. The company’s stock had a trading volume of 1,608,701 shares, compared to its average volume of 2,213,122. The stock has a market capitalization of $3.63 billion, a PE ratio of -10.27 and a beta of 1.49. The firm has a fifty day moving average of $24.67 and a 200 day moving average of $21.42. Intelsat SA has a one year low of $14.81 and a one year high of $29.54.

Intelsat (NYSE:I) last announced its earnings results on Tuesday, October 29th. The technology company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.86). The business had revenue of $506.70 million during the quarter, compared to analyst estimates of $502.15 million. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) EPS. As a group, equities analysts forecast that Intelsat SA will post -3.5 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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Institutional Ownership by Quarter for Intelsat (NYSE:I)

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