Loral Space & Communications Ltd. (NASDAQ:LORL) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a sell rating to a hold rating in a research report released on Saturday, BidAskClub reports.

Separately, ValuEngine raised shares of Loral Space & Communications Ltd. from a hold rating to a buy rating in a research note on Friday, July 26th.

Shares of NASDAQ:LORL opened at $41.06 on Friday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 15.52 and a beta of 1.00. The firm has a 50 day simple moving average of $37.72 and a 200 day simple moving average of $36.79. Loral Space & Communications Ltd. has a one year low of $33.33 and a one year high of $48.09.

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

Large investors have recently modified their holdings of the stock. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Loral Space & Communications Ltd. by 1.9% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 153,968 shares of the communications equipment provider’s stock valued at $5,313,000 after purchasing an additional 2,900 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Loral Space & Communications Ltd. by 7.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,489 shares of the communications equipment provider’s stock valued at $189,000 after acquiring an additional 390 shares during the period. OZ Management LP acquired a new position in Loral Space & Communications Ltd. in the 1st quarter valued at approximately $12,041,000. Allianz Asset Management GmbH increased its position in Loral Space & Communications Ltd. by 13.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 14,721 shares of the communications equipment provider’s stock valued at $508,000 after acquiring an additional 1,727 shares during the period. Finally, Gabelli Funds LLC increased its position in Loral Space & Communications Ltd. by 1.1% in the 2nd quarter. Gabelli Funds LLC now owns 782,297 shares of the communications equipment provider’s stock valued at $26,997,000 after acquiring an additional 8,500 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Loral Space & Communications Ltd. Company Profile

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.

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