Macquarie Group Ltd. raised its position in shares of Echostar Co. (NASDAQ:SATS) by 600.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700 shares of the communications equipment provider’s stock after acquiring an additional 600 shares during the period. Macquarie Group Ltd.’s holdings in Echostar were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of SATS. Teachers Advisors LLC grew its holdings in shares of Echostar by 1.1% in the third quarter. Teachers Advisors LLC now owns 60,684 shares of the communications equipment provider’s stock worth $2,814,000 after purchasing an additional 644 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Echostar by 62.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,234 shares of the communications equipment provider’s stock worth $83,000 after purchasing an additional 861 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Echostar by 2.5% in the fourth quarter. Legal & General Group Plc now owns 38,178 shares of the communications equipment provider’s stock worth $1,402,000 after purchasing an additional 942 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Echostar by 27.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 6,333 shares of the communications equipment provider’s stock worth $224,000 after purchasing an additional 1,353 shares during the last quarter. Finally, CenturyLink Investment Management Co grew its holdings in shares of Echostar by 6.4% in the fourth quarter. CenturyLink Investment Management Co now owns 28,158 shares of the communications equipment provider’s stock worth $1,034,000 after purchasing an additional 1,689 shares during the last quarter. Institutional investors and hedge funds own 47.30% of the company’s stock.

In related news, CEO Michael T. Dugan sold 100,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $37.24, for a total value of $3,724,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,146 shares of the company’s stock, valued at $2,798,437.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael T. Dugan sold 50,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $37.23, for a total transaction of $1,861,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,146 shares of the company’s stock, valued at $2,797,685.58. The disclosure for this sale can be found here. 51.60% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on SATS shares. Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Saturday, January 19th. Citigroup cut their price target on shares of Echostar from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 27th. Finally, BidaskClub upgraded shares of Echostar from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Echostar has an average rating of “Hold” and an average price target of $52.50.

NASDAQ:SATS opened at $39.88 on Monday. Echostar Co. has a 1-year low of $33.58 and a 1-year high of $55.84. The stock has a market capitalization of $3.80 billion, a P/E ratio of 104.95 and a beta of 0.93. The company has a quick ratio of 2.61, a current ratio of 2.66 and a debt-to-equity ratio of 0.62.

Echostar (NASDAQ:SATS) last released its quarterly earnings data on Thursday, February 21st. The communications equipment provider reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.08). Echostar had a positive return on equity of 0.89% and a negative net margin of 1.91%. The business had revenue of $530.70 million during the quarter, compared to analysts’ expectations of $546.55 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year.

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Echostar Company Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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