EchoStar Corporation (SATS) Holdings Cut by Quantbot Technologies LP
Quantbot Technologies LP trimmed its position in shares of EchoStar Corporation (NASDAQ:SATS) by 8.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,370 shares of the communications equipment provider’s stock after selling 678 shares during the period. Quantbot Technologies LP’s holdings in EchoStar Corporation were worth $447,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in EchoStar Corporation during the first quarter valued at about $142,000. Teacher Retirement System of Texas bought a new stake in shares of EchoStar Corporation in the first quarter valued at about $210,000. South State Corp bought a new stake in shares of EchoStar Corporation in the second quarter valued at about $234,000. Zweig DiMenna Associates LLC bought a new stake in shares of EchoStar Corporation in the second quarter valued at about $267,000. Finally, Pacer Advisors Inc. lifted 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. Institutional investors own 45.04% of the company’s stock.
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In related news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction dated 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 sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $117,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction dated 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.
Shares of EchoStar Corporation (NASDAQ:SATS) opened at 57.23 on Friday. The company has a market cap of $5.47 billion, a PE ratio of 45.46 and a beta of 0.72. EchoStar Corporation has a 1-year low of $40.65 and a 1-year high of $62.50. The company has a 50 day moving average of $58.16 and a 200 day moving average of $58.30.
EchoStar Corporation (NASDAQ:SATS) last announced its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. Equities analysts expect that EchoStar Corporation will post $0.83 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on SATS shares. Jefferies Group LLC started coverage on shares of EchoStar Corporation in a research note on Friday, September 8th. They issued a “hold” rating and a $65.00 target price for the company. TheStreet cut shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Finally, BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. EchoStar Corporation currently has a consensus rating of “Hold” and a consensus price target of $63.00.
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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