Teachers Advisors LLC Boosts Position in EchoStar Corporation (SATS)
Teachers Advisors LLC increased its holdings in EchoStar Corporation (NASDAQ:SATS) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,870 shares of the communications equipment provider’s stock after buying an additional 2,745 shares during the quarter. Teachers Advisors LLC owned 0.06% of EchoStar Corporation worth $3,331,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Partners Fund LP purchased a new position in shares of EchoStar Corporation in the first quarter worth approximately $142,000. Teacher Retirement System of Texas purchased a new position in shares of EchoStar Corporation in the first quarter worth approximately $210,000. South State Corp purchased a new position in shares of EchoStar Corporation in the second quarter worth approximately $234,000. Zweig DiMenna Associates LLC purchased a new position in shares of EchoStar Corporation in the second quarter worth approximately $267,000. Finally, Amalgamated Bank boosted its holdings in shares of EchoStar Corporation by 3.2% in the first quarter. Amalgamated Bank now owns 6,527 shares of the communications equipment provider’s stock worth $372,000 after buying an additional 200 shares during the last quarter. 45.04% of the stock is currently owned by institutional investors.
In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total value of $418,556.16. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $117,440. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 73.54% of the company’s stock.
SATS has been the topic of a number of research reports. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a report on Friday, September 8th. They issued a “hold” rating and a $65.00 price objective on the stock. BidaskClub downgraded shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, TheStreet downgraded shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. EchoStar Corporation currently has a consensus rating of “Buy” and a consensus target price of $63.33.
EchoStar Corporation (SATS) opened at 54.45 on Tuesday. The firm’s 50-day moving average is $57.28 and its 200 day moving average is $58.61. EchoStar Corporation has a one year low of $44.01 and a one year high of $62.50. The stock has a market cap of $5.21 billion, a P/E ratio of 43.25 and a beta of 0.70.
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 the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The company had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same quarter in the prior year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts anticipate that EchoStar Corporation will post $0.83 EPS for the current fiscal year.
EchoStar Corporation Company 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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