Rhumbline Advisers decreased its holdings in EchoStar Corporation (NASDAQ:SATS) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,409 shares of the communications equipment provider’s stock after selling 895 shares during the quarter. Rhumbline Advisers’ holdings in EchoStar Corporation were worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Teacher Retirement System of Texas grew its position in EchoStar Corporation by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock worth $227,000 after buying an additional 39 shares during the last quarter. First Trust Advisors LP grew its position in EchoStar Corporation by 376.4% in the second quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock worth $14,631,000 after buying an additional 190,448 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in EchoStar Corporation by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 223,807 shares of the communications equipment provider’s stock worth $13,586,000 after buying an additional 12,061 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in EchoStar Corporation by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,114 shares of the communications equipment provider’s stock worth $614,000 after buying an additional 42 shares during the last quarter. Finally, US Bancorp DE grew its position in EchoStar Corporation by 0.7% in the second quarter. US Bancorp DE now owns 12,395 shares of the communications equipment provider’s stock worth $753,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 45.04% of the company’s stock.

Several research firms have issued reports on SATS. TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC began coverage on shares of EchoStar Corporation in a research report on Friday. They issued a “hold” rating and a $65.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

In related news, CEO Michael T. Dugan sold 5,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $62.24, for a total value of $311,200.00. Following the transaction, the chief executive officer now directly owns 30,146 shares in the company, valued at $1,876,287.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anders N. Johnson sold 7,128 shares of the 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 in the company, valued at $117,440. The disclosure for this sale can be found here. Insiders sold 17,128 shares of company stock worth $1,022,256 over the last 90 days. 73.54% of the stock is currently owned by company insiders.

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EchoStar Corporation (NASDAQ SATS) opened at 56.13 on Monday. EchoStar Corporation has a 52-week low of $38.18 and a 52-week high of $62.50. The firm has a 50-day moving average of $58.99 and a 200 day moving average of $58.13. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 44.58 and a beta of 0.72.

EchoStar Corporation (NASDAQ:SATS) last announced its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.05. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The business had revenue of $465.08 million during the quarter, compared to analyst estimates of $455.25 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that EchoStar Corporation will post $0.56 earnings per share for the current year.

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.

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

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