Shannon River Fund Management Lowers stake in Loral Space & Communications Ltd. (LORL)

Loral Space & Communications Ltd. (LORL) : Shannon River Fund Management reduced its stake in Loral Space & Communications Ltd. by 17.84% during the most recent quarter end. The investment management company now holds a total of 538,000 shares of Loral Space & Communications Ltd. which is valued at $19,029,060 after selling 116,852 shares in Loral Space & Communications Ltd. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Loral Space & Communications Ltd. makes up approximately 4.30% of Shannon River Fund Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp sold out all of its stake in LORL during the most recent quarter. The investment firm sold 50,984 shares of LORL which is valued $1,803,304. Van Eck Associates Corp added LORL to its portfolio by purchasing 51 company shares during the most recent quarter which is valued at $1,804. Kennedy Capital Management sold out all of its stake in LORL during the most recent quarter. The investment firm sold 10,000 shares of LORL which is valued $353,700. Napier Park Global Capital (us) Lp sold out all of its stake in LORL during the most recent quarter. The investment firm sold 76,753 shares of LORL which is valued $2,714,754.Gabelli Funds boosted its stake in LORL in the latest quarter, The investment management firm added 56,065 additional shares and now holds a total of 469,572 shares of Loral Space & Communications Ltd. which is valued at $16,491,369. Loral Space & Communications Ltd. makes up approx 0.10% of Gabelli Funds’s portfolio.

Loral Space & Communications Ltd. opened for trading at $36.61 and hit $36.86 on the upside on Thursday, eventually ending the session at $36.7, with a gain of 0.66% or 0.24 points. The heightened volatility saw the trading volume jump to 52,802 shares. Company has a market cap of $1,135 M.

Loral Space & Communications Inc. is a satellite communications company. The Company through its ownership interests in affiliates is engaged in satellite-based communications services. The Company participates in satellite services operations through its 62.8% economic interest in Telesat Holdings Inc. (Telesat Holdco) which owns Telesat Canada (Telesat). Telesat owns and leases a satellite fleet that operates in geosynchronous earth orbit approximately 22000 miles above the equator. The Company also own 56% of XTAR LLC (XTAR) a joint venture between Loral and Hisdesat Servicios Estrategicos S.A. (Hisdesat). XTAR owns and operates an X-band satellite. Telesat earns revenue by providing ground-based transmit and receive services selling equipment installing managing and maintaining satellite networks and providing consulting services in the field of satellite communications. Telesat categorizes its revenues into: Broadcast Enterprise Services and Consulting & Other.

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