Mario Gabelli And GAMCO Investors Are Betting On Loral Space & Communications (LORL)

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The restless Mario Gabelli has disclosed his latest play: Loral Space & Communications Inc. (NASDAQ:LORL). In a recent filing with the Securities and Exchange Commission, Gabelli’s GAMCO Investors has reported a fresh stake in the satellite communications company. According to the filing, through GAMCO and some of its affiliates, Mario Gabelli has beneficial ownership of a little over 1.1 million shares of Loral Space & Communications, which amount to 5.14% of its outstanding stock.


Loral Space & Communications Inc. (NASDAQ:LORL) has a market cap of approximately $1 billion and its shares are currently trading at a trailing Price to Earnings (P/E) ratio of 31, a bit higher than the industry average of 25. Although the stock managed to regain all the ground lost in the beginning of the year, it took another nosedive in June and is currently down by 14% for the year, having ended yesterday’s trading session at $34.52 a share. For the three months ended March 31, 2016, Loral Space & Communications reported a profit of $23.9 million or $0.72 per diluted share, up from a loss of $2.67 per share reported a year before.

At the end of the first quarter, approximately 57% of Loral Space & Communications Inc. (NASDAQ:LORL) was held by 25 of the funds tracked by Insider Monkey, up from 24 registered three months before. Mark Rachesky‘s MHR Fund Management held the largest stake in the company among the funds in our database, having amassed 8.53 million shares by the end of March. James Dondero‘s Highland Capital Management was also invested, having indicated ownership of 2.12 million shares in its latest 13F filing, unchanged during the quarter.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Gabelli Funds 475,772 475,772 475,772 2.22%
GAMCO Asset Management Inc. I.D. No. 13-40445 468,061 505,615 505,615 2.36%
Gabelli Securities, Inc I.D. No. 13-3379374 85,864 85,864 85,864 0.40%
Gabelli Foundation, Inc. I.D. No. 94 800 800 800 0.00%
MJG Associates, Inc. I.D. No. 06-1304 6,700 6,700 6,700 0.03%
GGCP, Inc. I.D. No. 13-3056041 0.00%
GAMCO Investors, Inc. I.D. No. 13-400786 1,560 1,560 1,560 0.01%
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) 0.00%
Mario J. Gabelli 24,100 24,100 24,100 0.11%

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Page 1 of 19 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
Loral Space & Communications Inc.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________ June 29, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box .

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