SCHEDULE 13D/A: Gabelli Entities Disclose 18.40% Stake in Telesat Corp via Amended SEC Filing
Beneficial Ownership Report
A group of investment entities associated with Mario Gabelli, including GAMCO Investors, Inc. and Gabelli Funds LLC, have filed an amended Schedule 13D disclosing a combined beneficial ownership of 18.40% of Telesat Corp's Class A and Class B shares.
Summary
- The filing is an Amendment No. 19 to Schedule 13D for Telesat Corp, detailing beneficial ownership changes.
- A group of reporting persons, primarily investment entities associated with Mario Gabelli, collectively beneficially own 2,698,534 shares of Telesat Corp's Class A common and Class B variable voting shares.
- This aggregate ownership represents 18.40% of the 14,666,893 shares outstanding as reported by the Issuer as of April 22, 2025.
- Key reporting entities and their beneficial ownership percentages include GAMCO Asset Management Inc. (12.29%), Gabelli Funds LLC (4.97%), Gabelli & Co Investment Advisers, Inc. (0.50%), Gabelli Foundation, Inc. (0.39%), MJG Associates, Inc. (0.10%), Associated Capital Group, Inc. (0.07%), GGCP, Inc. (0.07%), and GAMCO Investors, Inc. (0.01%).
- The filing details various purchase and sale transactions of Telesat Corp shares by Gabelli Funds, LLC and GAMCO Asset Management Inc. between April 8, 2025, and May 28, 2025, with prices ranging from $15.4700 to $18.0997 per share.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and recent transactions, without expressing explicit sentiment or strategic intent regarding the issuer. The sentiment is neutral as it simply reports a stake.
Future Outlook
NA
Industry Context
This Schedule 13D filing indicates a significant passive investment by a group of investment management firms led by Mario Gabelli in Telesat Corp, a company operating in the satellite communications industry. Such filings provide transparency into large ownership stakes, which can sometimes precede increased shareholder engagement or strategic interest, though no such intent is declared in this filing.
Stakeholder Impact
- Shareholders of Telesat Corp will note the significant aggregate ownership stake held by the Gabelli-affiliated entities, which could influence market perception of the stock's stability or potential for future shareholder activism, although no activist intent is stated.
Key Dates
| Date | Description |
|---|---|
| 2025-04-08 | GAMCO Asset Management Inc. purchased 200 shares at $16.9500. |
| 2025-04-09 | Gabelli Funds, LLC sold 500 shares at $18.0997. |
| 2025-04-21 | Gabelli Funds, LLC purchased 1,000 shares at $15.7954. |
| 2025-04-22 | Issuer reported 14,666,893 shares outstanding. |
| 2025-04-30 | GAMCO Asset Management Inc. sold 1,750 shares at $15.4700. |
| 2025-05-06 | Gabelli Funds, LLC purchased 1,000 shares at $16.6630; GAMCO Asset Management Inc. sold 200 shares at $17.2150. |
| 2025-05-07 | Gabelli Funds, LLC purchased 1,000 shares at $15.6590. |
| 2025-05-13 | GAMCO Asset Management Inc. sold 350 shares at $17.1200. |
| 2025-05-14 | GAMCO Asset Management Inc. purchased 300 shares at $17.5200. |
| 2025-05-19 | GAMCO Asset Management Inc. purchased 400 shares at $16.5753. |
| 2025-05-20 | GAMCO Asset Management Inc. sold 500 shares at $15.9600 and purchased 150 shares at $17.3250. |
| 2025-05-21 | GAMCO Asset Management Inc. purchased 200 shares at $16.0961 and 750 shares at $16.1327. |
| 2025-05-22 | GAMCO Asset Management Inc. purchased 1,000 shares at $15.7400, 500 shares at $15.7500, and 502 shares at $15.8500. |
| 2025-05-27 | GAMCO Asset Management Inc. purchased 9 shares at $16.0000. |
| 2025-05-28 | GAMCO Asset Management Inc. sold 3,000 shares at $16.5002. |
| 2025-05-30 | Date of event which requires filing of this statement. |
| 2025-06-03 | Date of filing of this Schedule 13D amendment. |
Keywords
Telesat Corp, Schedule 13D, Beneficial Ownership, GAMCO Investors, Gabelli Funds, Mario Gabelli, Satellite Communications, Investment Management, Shareholding, SEC Filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.