market folly

Omega Advisors' Lee Cooperman has filed a 13G with the SEC regarding his position in Loral Space & Communications (LORL).  Per the filing, Cooperman now owns 5.21% of the company with over 1.11 million shares.

This marks an increase in his position size of 94,225 shares since the end of the first quarter.  The filing was made due to activity on June 25th.

We also highlighted some other recent portfolio activity from Cooperman here.

Per Google Finance, Loral Space & Communications 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 22,000 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."