Clearline Capital LP Sells 9,506 Shares of Intelsat SA (NYSE:I)

Clearline Capital LP trimmed its position in Intelsat SA (NYSE:I) by 27.8% during the second quarter, Holdings Channel reports. The institutional investor owned 24,704 shares of the technology company’s stock after selling 9,506 shares during the quarter. Clearline Capital LP’s holdings in Intelsat were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in I. Ipswich Investment Management Co. Inc. boosted its position in shares of 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 purchasing an additional 3,670 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Intelsat by 13.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 31,627 shares of the technology company’s stock worth $615,000 after purchasing an additional 3,700 shares during the last quarter. Hartwell J M Limited Partnership boosted its position in shares of 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 purchasing an additional 3,950 shares during the last quarter. Aperio Group LLC bought a new position in shares of Intelsat in the 2nd quarter worth $110,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of Intelsat in the 2nd quarter worth $244,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

I stock traded up $0.97 during midday trading on Thursday, hitting $23.88. 32,286 shares of the company’s stock were exchanged, compared to its average volume of 1,507,121. The stock’s fifty day moving average price is $20.64 and its 200-day moving average price is $19.64. The company has a market cap of $3.29 billion, a PE ratio of -10.31 and a beta of 1.50. Intelsat SA has a one year low of $14.81 and a one year high of $37.70.

Intelsat (NYSE:I) last posted its earnings results on Tuesday, July 30th. The technology company reported ($1.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.10). The business had revenue of $509.40 million during the quarter, compared to analysts’ expectations of $500.08 million. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.38) EPS. On average, analysts predict that Intelsat SA will post -2.25 earnings per share for the current fiscal year.

Several research firms have recently issued reports on I. JPMorgan Chase & Co. raised their price target on Intelsat from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Investment Research lowered Intelsat from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Intelsat presently has an average rating of “Hold” and a consensus price target of $30.17.

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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