Sound Point Capital Management Lp Lowers stake in Loral Space & Communications Ltd. (LORL)

Loral Space & Communications Ltd. (LORL) : Sound Point Capital Management Lp reduced its stake in Loral Space & Communications Ltd. by 9.19% during the most recent quarter end. The investment management company now holds a total of 192,149 shares of Loral Space & Communications Ltd. which is valued at $6,796,310 after selling 19,436 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 11.16% of Sound Point Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in LORL by selling 2,700 shares or 9.8% in the most recent quarter. The Hedge Fund company now holds 24,844 shares of LORL which is valued at $878,732.Norges Bank reduced its stake in LORL by selling 54,573 shares or 54.25% in the most recent quarter. The Hedge Fund company now holds 46,026 shares of LORL which is valued at $1,627,940.Dimensional Fund Advisors Lp reduced its stake in LORL by selling 82,738 shares or 37.72% in the most recent quarter. The Hedge Fund company now holds 136,627 shares of LORL which is valued at $4,944,531. Barrow Hanley Mewhinney Strauss added LORL to its portfolio by purchasing 53,880 company shares during the most recent quarter which is valued at $1,931,598.Gabelli Securities boosted its stake in LORL in the latest quarter, The investment management firm added 18,417 additional shares and now holds a total of 81,364 shares of Loral Space & Communications Ltd. which is valued at $2,857,504. Loral Space & Communications Ltd. makes up approx 0.43% of Gabelli Securities’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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