Vanguard Group Inc. grew its stake in EchoStar Corporation (NASDAQ:SATS) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,001,260 shares of the communications equipment provider’s stock after buying an additional 299,543 shares during the period. Vanguard Group Inc. owned 3.14% of EchoStar Corporation worth $182,177,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP boosted its holdings in shares of EchoStar Corporation by 504.5% in the 2nd quarter. GSA Capital Partners LLP now owns 26,344 shares of the communications equipment provider’s stock valued at $1,599,000 after buying an additional 21,986 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in EchoStar Corporation by 2.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 39,775 shares of the communications equipment provider’s stock worth $2,414,000 after purchasing an additional 873 shares during the period. Lazard Asset Management LLC boosted its stake in EchoStar Corporation by 23.0% during the 2nd quarter. Lazard Asset Management LLC now owns 164,146 shares of the communications equipment provider’s stock worth $9,962,000 after purchasing an additional 30,642 shares during the period. Laurion Capital Management LP acquired a new stake in EchoStar Corporation during the 2nd quarter worth $1,051,000. Finally, Amalgamated Bank boosted its stake in EchoStar Corporation by 30.9% during the 2nd quarter. Amalgamated Bank now owns 8,544 shares of the communications equipment provider’s stock worth $519,000 after purchasing an additional 2,017 shares during the period. Institutional investors and hedge funds own 45.04% of the company’s stock.
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Shares of EchoStar Corporation (NASDAQ SATS) opened at 54.78 on Wednesday. EchoStar Corporation has a 52 week low of $44.01 and a 52 week high of $62.50. The company’s 50-day moving average is $57.28 and its 200-day moving average is $58.61. The firm has a market cap of $5.24 billion, a PE ratio of 43.51 and a beta of 0.69.
EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $465.08 million during the quarter, compared to analyst estimates of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. Analysts forecast that EchoStar Corporation will post $0.83 EPS for the current fiscal year.
In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total value of $418,556.16. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $117,440. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. Insiders own 73.54% of the company’s stock.
A number of analysts recently weighed in on the stock. BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. TheStreet cut shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Finally, Jefferies Group LLC assumed coverage on shares of EchoStar Corporation in a research note on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. EchoStar Corporation presently has a consensus rating of “Buy” and an average price target of $63.33.
EchoStar Corporation Profile
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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