California Public Employees Retirement System reduced its holdings in shares of Intelsat S.A. (NYSE:I) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,800 shares of the technology company’s stock after selling 60,700 shares during the quarter. California Public Employees Retirement System owned about 0.26% of Intelsat worth $963,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in Intelsat in the 2nd quarter worth approximately $100,000. Rhumbline Advisers lifted its stake in Intelsat by 15.3% in the 2nd quarter. Rhumbline Advisers now owns 39,692 shares of the technology company’s stock worth $121,000 after purchasing an additional 5,265 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Intelsat by 16.0% in the 2nd quarter. Alliancebernstein L.P. now owns 42,800 shares of the technology company’s stock worth $131,000 after purchasing an additional 5,900 shares in the last quarter. Teachers Advisors LLC lifted its stake in Intelsat by 45.3% in the 2nd quarter. Teachers Advisors LLC now owns 61,553 shares of the technology company’s stock worth $188,000 after purchasing an additional 19,189 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Intelsat by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,009 shares of the technology company’s stock worth $351,000 after purchasing an additional 9,913 shares in the last quarter. Institutional investors own 37.87% of the company’s stock.
I has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Intelsat from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Intelsat from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine upgraded shares of Intelsat from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) started coverage on shares of Intelsat in a report on Thursday, August 10th. They issued a “neutral” rating and a $3.50 price target on the stock. Finally, Jefferies Group LLC raised shares of Intelsat from a “hold” rating to a “buy” rating and increased their price target for the stock from $2.50 to $5.00 in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.54.
Intelsat S.A. (I) opened at $3.86 on Tuesday. Intelsat S.A. has a twelve month low of $2.52 and a twelve month high of $7.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of -3.83.
Intelsat (NYSE:I) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.04. The firm had revenue of $538.80 million for the quarter, compared to analyst estimates of $536.93 million. Intelsat had a net margin of 26.57% and a negative return on equity of 1.90%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. sell-side analysts expect that Intelsat S.A. will post -1.07 EPS for the current year.
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Intelsat SA operates in satellite services business. The Company provides satellite services to its communications customers around the world. It provides 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 (ISPs).
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