Nuveen Asset Management LLC bought a new position in shares of Loral Space & Communications Ltd. (NASDAQ:LORL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 68,718 shares of the communications equipment provider’s stock, valued at approximately $2,371,000. Nuveen Asset Management LLC owned about 0.22% of Loral Space & Communications Ltd. at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LORL. Patriot Financial Group Insurance Agency LLC lifted its stake in Loral Space & Communications Ltd. by 42.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,000 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Bank of Montreal Can lifted its stake in Loral Space & Communications Ltd. by 106.0% during the second quarter. Bank of Montreal Can now owns 2,066 shares of the communications equipment provider’s stock worth $71,000 after purchasing an additional 1,063 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Loral Space & Communications Ltd. by 7.6% during the second quarter. BNP Paribas Arbitrage SA now owns 5,489 shares of the communications equipment provider’s stock worth $189,000 after purchasing an additional 390 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Loral Space & Communications Ltd. during the second quarter worth $293,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in Loral Space & Communications Ltd. during the second quarter worth $388,000. Hedge funds and other institutional investors own 65.29% of the company’s stock.

A number of brokerages have recently commented on LORL. ValuEngine upgraded Loral Space & Communications Ltd. from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. BidaskClub cut Loral Space & Communications Ltd. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th.

Shares of LORL traded down $0.23 during trading hours on Wednesday, reaching $40.18. The stock had a trading volume of 79 shares, compared to its average volume of 36,969. Loral Space & Communications Ltd. has a 12 month low of $33.33 and a 12 month high of $47.07. The stock has a market capitalization of $1.27 billion, a PE ratio of 15.61 and a beta of 1.01. The company’s 50-day moving average is $40.33 and its two-hundred day moving average is $37.29.

Loral Space & Communications Ltd. (NASDAQ:LORL) last announced its quarterly earnings results on Tuesday, August 6th. The communications equipment provider reported $1.23 EPS for the quarter.

About Loral Space & Communications Ltd.

Loral Space & Communications Inc, a satellite communications company, offers satellite-based communications services to the broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2018, the company provided satellite services to its customers through a fleet of 17 in-orbit geostationary satellites; and owned the Canadian Ka-band payload on the ViaSat-1 satellite.

Recommended Story: What is meant by buying and selling pressure?

Institutional Ownership by Quarter for Loral Space & Communications Ltd. (NASDAQ:LORL)

Receive News & Ratings for Loral Space & Communications Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loral Space & Communications Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.