Nuveen Asset Management LLC bought a new position in Intelsat SA (NYSE:I) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 222,334 shares of the technology company’s stock, valued at approximately $4,324,000. Nuveen Asset Management LLC owned 0.16% of Intelsat as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Ipswich Investment Management Co. Inc. raised its holdings in shares of Intelsat by 18.2% during the second 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 period. State Board of Administration of Florida Retirement System grew its position in Intelsat by 13.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,627 shares of the technology company’s stock valued at $615,000 after purchasing an additional 3,700 shares in the last quarter. Hartwell J M Limited Partnership grew its position in Intelsat by 0.8% in the second quarter. Hartwell J M Limited Partnership now owns 496,150 shares of the technology company’s stock valued at $9,650,000 after purchasing an additional 3,950 shares in the last quarter. Aperio Group LLC bought a new position in Intelsat in the second quarter valued at $110,000. Finally, Neo Ivy Capital Management bought a new position in Intelsat in the second quarter valued at $188,000. Institutional investors and hedge funds own 90.92% of the company’s stock.
Shares of I traded down $0.45 during midday trading on Friday, reaching $23.92. The stock had a trading volume of 1,608,701 shares, compared to its average volume of 2,213,122. The firm has a market cap of $3.63 billion, a PE ratio of -10.27 and a beta of 1.49. The firm has a 50 day simple moving average of $24.67 and a 200-day simple 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) EPS for the quarter, missing the consensus estimate of ($0.88) by ($1.86). The company had revenue of $506.70 million for the quarter, compared to analyst estimates of $502.15 million. During the same period last year, the firm earned ($0.26) earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts anticipate that Intelsat SA will post -3.5 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on I shares. JPMorgan Chase & Co. raised their target price on shares of Intelsat from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Zacks Investment Research downgraded shares of Intelsat from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Barclays set a $20.00 target price on shares of Intelsat and gave the company a “hold” rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Intelsat has an average rating of “Hold” and an average price target of $29.40.
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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