Intelsat Sees Unusually Large Options Volume (I)

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Intelsat SA (NYSE:I) saw unusually large options trading on Thursday. Traders bought 19,672 put options on the company. This is an increase of approximately 1,062% compared to the average volume of 1,693 put options.

Hedge funds have recently added to or reduced their stakes in the company. HRT Financial LLC bought a new stake in Intelsat in the fourth quarter valued at about $517,000. Centerbridge Partners L.P. increased its holdings in Intelsat by 3,504.2% in the fourth quarter. Centerbridge Partners L.P. now owns 857,800 shares of the technology company’s stock valued at $18,349,000 after purchasing an additional 834,000 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Intelsat in the fourth quarter valued at about $2,920,000. Stone Ridge Asset Management LLC bought a new stake in Intelsat in the fourth quarter valued at about $1,177,000. Finally, Solus Alternative Asset Management LP bought a new stake in Intelsat in the fourth quarter valued at about $10,695,000. Institutional investors own 49.89% of the company’s stock.

Intelsat stock opened at $24.59 on Friday. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of -10.55 and a beta of 1.32. Intelsat has a 52 week low of $3.21 and a 52 week high of $37.70.

Intelsat (NYSE:I) last posted its quarterly earnings data on Wednesday, February 20th. The technology company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.67). The business had revenue of $542.70 million during the quarter, compared to the consensus estimate of $539.00 million. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.75) earnings per share. Sell-side analysts expect that Intelsat will post -0.83 EPS for the current year.

I has been the topic of a number of recent analyst reports. TheStreet lowered Intelsat from a “c-” rating to a “d” rating in a research note on Wednesday, February 6th. Morgan Stanley raised Intelsat from an “underweight” rating to an “equal weight” rating and set a $28.00 price objective on the stock in a research note on Monday, November 12th. Barclays reissued a “hold” rating and issued a $23.00 price objective on shares of Intelsat in a research note on Friday, February 1st. Finally, Zacks Investment Research raised Intelsat from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Intelsat currently has an average rating of “Buy” and an average price target of $27.40.

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About Intelsat

Intelsat SA, through its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.

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