Alliancebernstein L.P. cut its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,285 shares of the communications equipment provider’s stock after selling 1,100 shares during the period. Alliancebernstein L.P.’s holdings in EchoStar Corporation were worth $1,440,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. James Investment Research Inc. acquired a new stake in shares of EchoStar Corporation during the first quarter valued at about $145,000. Teza Capital Management LLC acquired a new stake in shares of EchoStar Corporation during the first quarter valued at about $239,000. Quadrature Capital Ltd acquired a new stake in shares of EchoStar Corporation during the fourth quarter valued at about $272,000. Pacer Advisors Inc. raised its stake in shares of EchoStar Corporation by 22.1% in the first quarter. Pacer Advisors Inc. now owns 6,292 shares of the communications equipment provider’s stock valued at $358,000 after buying an additional 1,140 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of EchoStar Corporation by 117.3% in the first quarter. Quantbot Technologies LP now owns 8,048 shares of the communications equipment provider’s stock valued at $458,000 after buying an additional 4,344 shares during the period. 44.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EchoStar Corporation (SATS) opened at 61.49 on Wednesday. EchoStar Corporation has a one year low of $36.59 and a one year high of $62.50. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 34.37 and a beta of 0.70. The firm has a 50-day moving average of $60.80 and a 200 day moving average of $56.89.
EchoStar Corporation (NASDAQ:SATS) last posted its earnings results on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.17. EchoStar Corporation had a return on equity of 4.11% and a net margin of 6.30%. The company had revenue of $443.20 million during the quarter, compared to the consensus estimate of $447.17 million. During the same quarter last year, the firm earned $0.54 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that EchoStar Corporation will post $0.91 EPS for the current year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.33.
In other news, CEO Michael T. Dugan sold 5,000 shares of EchoStar Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $62.24, for a total transaction of $311,200.00. Following the completion of the sale, the chief executive officer now owns 30,146 shares of the company’s stock, valued at $1,876,287.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pradman P. Kaul sold 14,999 shares of EchoStar Corporation stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $58.25, for a total value of $873,691.75. Following the sale, the insider now directly owns 4,999 shares of the company’s stock, valued at approximately $291,191.75. The disclosure for this sale can be found here. Insiders have sold 59,862 shares of company stock valued at $3,598,258 in the last three months. Insiders own 73.54% of the company’s stock.
About EchoStar Corporation
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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