Intelsat SA (NYSE:I) Shares Sold by Clearline Capital LP
Clearline Capital LP decreased its position in Intelsat SA (NYSE:I) by 27.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.
Several other institutional investors have also recently made changes to their positions in the company. PointState Capital LP raised its position in shares of Intelsat by 3.4% during the second quarter. PointState Capital LP now owns 4,056,382 shares of the technology company’s stock worth $78,897,000 after purchasing an additional 133,960 shares during the period. Putnam Investments LLC raised its position in shares of Intelsat by 11.8% during the second quarter. Putnam Investments LLC now owns 274,200 shares of the technology company’s stock worth $5,333,000 after purchasing an additional 29,000 shares during the period. Invesco Ltd. raised its position in shares of Intelsat by 1.5% during the second quarter. Invesco Ltd. now owns 5,112,378 shares of the technology company’s stock worth $99,436,000 after purchasing an additional 77,535 shares during the period. Vanguard Group Inc. raised its position in shares of Intelsat by 3.5% during the second quarter. Vanguard Group Inc. now owns 5,727,480 shares of the technology company’s stock worth $111,399,000 after purchasing an additional 196,023 shares during the period. Finally, Diameter Capital Partners LP raised its position in shares of Intelsat by 48.5% during the second quarter. Diameter Capital Partners LP now owns 490,000 shares of the technology company’s stock worth $9,531,000 after purchasing an additional 160,000 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
Shares of I traded up $0.97 during trading hours on Thursday, hitting $23.88. 32,286 shares of the company were exchanged, compared to its average volume of 1,507,121. The company has a market cap of $3.29 billion, a PE ratio of -10.31 and a beta of 1.50. The firm’s 50 day moving average is $20.64 and its 200-day moving average is $19.64. Intelsat SA has a 52 week low of $14.81 and a 52 week high of $37.70.
Several research analysts recently weighed in on I shares. Zacks Investment Research lowered Intelsat from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. JPMorgan Chase & Co. upped their price target on Intelsat from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.17.
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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