7,025 Shares in EchoStar Corporation (SATS) Acquired by Chicago Equity Partners LLC
Chicago Equity Partners LLC purchased a new position in EchoStar Corporation (NASDAQ:SATS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,025 shares of the communications equipment provider’s stock, valued at approximately $426,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SATS. FNY Partners Fund LP bought a new position in shares of EchoStar Corporation in the 1st quarter worth $142,000. Teacher Retirement System of Texas bought a new position in shares of EchoStar Corporation in the 1st quarter worth $210,000. Teza Capital Management LLC bought a new position in shares of EchoStar Corporation in the 1st quarter worth $239,000. Zweig DiMenna Associates LLC bought a new position in shares of EchoStar Corporation in the 2nd quarter worth $267,000. Finally, Pacer Advisors Inc. raised its position in shares of EchoStar Corporation by 22.1% in the 1st quarter. Pacer Advisors Inc. now owns 6,292 shares of the communications equipment provider’s stock worth $358,000 after acquiring an additional 1,140 shares in the last quarter. 45.04% of the stock is owned by hedge funds and other institutional investors.
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EchoStar Corporation (NASDAQ:SATS) opened at 56.67 on Wednesday. The stock has a 50 day moving average price of $58.85 and a 200 day moving average price of $58.17. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 45.01 and a beta of 0.72. EchoStar Corporation has a 52-week low of $38.18 and a 52-week high of $62.50.
EchoStar Corporation (NASDAQ:SATS) last released its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The company had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. On average, equities analysts expect that EchoStar Corporation will post $0.66 earnings per share for the current year.
Several research firms have recently commented on SATS. BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Finally, Jefferies Group LLC began coverage on EchoStar Corporation in a research report on Friday, September 8th. They issued a “hold” rating and a $65.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. EchoStar Corporation currently has an average rating of “Hold” and a consensus target price of $63.00.
In related news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction 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 completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $117,440. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael T. Dugan sold 5,000 shares of EchoStar Corporation stock in a transaction 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 completion of the transaction, the chief executive officer now owns 30,146 shares of the company’s stock, valued at $1,876,287.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,128 shares of company stock valued at $1,022,256. 73.54% of the stock is currently owned by company insiders.
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.
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