Victory Capital Management Inc. Increases Holdings in EchoStar Corporation (SATS)

Victory Capital Management Inc. boosted its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,725 shares of the communications equipment provider’s stock after acquiring an additional 2,312 shares during the period. Victory Capital Management Inc.’s holdings in EchoStar Corporation were worth $1,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in shares of EchoStar Corporation by 545.2% in the first quarter. FMR LLC now owns 154,580 shares of the communications equipment provider’s stock valued at $8,803,000 after buying an additional 130,620 shares during the last quarter. Teachers Advisors LLC raised its position in shares of EchoStar Corporation by 9.4% in the first quarter. Teachers Advisors LLC now owns 52,125 shares of the communications equipment provider’s stock valued at $2,969,000 after buying an additional 4,475 shares during the last quarter. BlackRock Inc. raised its position in shares of EchoStar Corporation by 11,213.9% in the first quarter. BlackRock Inc. now owns 1,929,583 shares of the communications equipment provider’s stock valued at $109,889,000 after buying an additional 1,912,528 shares during the last quarter. State Street Corp raised its position in shares of EchoStar Corporation by 8.0% in the first quarter. State Street Corp now owns 674,795 shares of the communications equipment provider’s stock valued at $38,433,000 after buying an additional 50,185 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of EchoStar Corporation by 0.3% in the first quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock valued at $2,334,000 after buying an additional 130 shares during the last quarter. Institutional investors own 44.64% of the company’s stock.

SATS has been the subject of a number of analyst reports. TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a research report on Friday, September 8th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, Zacks Investment Research raised shares of EchoStar Corporation from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Friday, November 10th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $63.75.

In related news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Rayner sold 5,000 shares of the company’s stock in a transaction that occurred 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. Corporate insiders own 73.54% of the company’s stock.

EchoStar Corporation (SATS) opened at $59.58 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. The firm has a market cap of $5,731.12, a P/E ratio of 51.17, a PEG ratio of 2.95 and a beta of 0.76. EchoStar Corporation has a 52-week low of $49.82 and a 52-week high of $62.50.

EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.37. EchoStar Corporation had a net margin of 5.55% and a return on equity of 2.85%. The firm had revenue of $481.20 million during the quarter, compared to analyst estimates of $477.33 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. EchoStar Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts forecast that EchoStar Corporation will post 0.94 EPS for the current year.

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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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Institutional Ownership by Quarter for EchoStar Corporation (NASDAQ:SATS)

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