Wittenberg Investment Management Inc. Sells 800 Shares of Loral Space & Communications Ltd. (NASDAQ:LORL)

Wittenberg Investment Management Inc. lowered its stake in Loral Space & Communications Ltd. (NASDAQ:LORL) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,320 shares of the communications equipment provider’s stock after selling 800 shares during the quarter. Wittenberg Investment Management Inc. owned 0.11% of Loral Space & Communications Ltd. worth $1,219,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Royce & Associates LP lifted its position in Loral Space & Communications Ltd. by 53.2% in the first quarter. Royce & Associates LP now owns 829 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 288 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Loral Space & Communications Ltd. by 3,555.3% during the first quarter. Quadrant Capital Group LLC now owns 1,389 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 1,351 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Loral Space & Communications Ltd. by 334.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,138 shares of the communications equipment provider’s stock valued at $154,000 after buying an additional 3,186 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Loral Space & Communications Ltd. by 24.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,099 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 987 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Loral Space & Communications Ltd. during the fourth quarter valued at approximately $424,000. Hedge funds and other institutional investors own 65.86% of the company’s stock.

Shares of LORL traded up $0.89 during mid-day trading on Friday, hitting $37.37. 36,808 shares of the company’s stock traded hands, compared to its average volume of 44,868. Loral Space & Communications Ltd. has a 1 year low of $33.33 and a 1 year high of $48.09. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 26.09 and a beta of 1.02. The business has a 50-day simple moving average of $35.18.

Loral Space & Communications Ltd. (NASDAQ:LORL) last posted its earnings results on Thursday, May 9th. The communications equipment provider reported $1.23 earnings per share (EPS) for the quarter.

Several equities analysts have recently issued reports on LORL shares. BidaskClub raised Loral Space & Communications Ltd. from a “strong sell” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised Loral Space & Communications Ltd. from a “hold” rating to a “buy” rating in a research note on Friday, July 26th.

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.

Further Reading: Total Return

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

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