Cornerstone Capital Management Holdings LLC. raised its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 28.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,914 shares of the communications equipment provider’s stock after buying an additional 49,628 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.24% of EchoStar Corporation worth $13,712,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SATS. BlackRock Inc. boosted its stake in shares of EchoStar Corporation by 11,213.9% during the 1st quarter. BlackRock Inc. now owns 1,929,583 shares of the communications equipment provider’s stock valued at $109,889,000 after buying an additional 1,912,528 shares during the period. Vanguard Group Inc. boosted its stake in shares of EchoStar Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock valued at $182,177,000 after buying an additional 299,543 shares during the period. First Trust Advisors LP boosted its stake in shares of EchoStar Corporation by 376.4% during the 2nd quarter. First Trust Advisors LP now owns 241,039 shares of the communications equipment provider’s stock valued at $14,631,000 after buying an additional 190,448 shares during the period. Renaissance Technologies LLC boosted its stake in shares of EchoStar Corporation by 6.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,748,080 shares of the communications equipment provider’s stock valued at $156,503,000 after buying an additional 175,100 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of EchoStar Corporation by 14.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,276,144 shares of the communications equipment provider’s stock valued at $72,670,000 after buying an additional 157,545 shares during the period. 45.04% of the stock is owned by institutional investors.

EchoStar Corporation (NASDAQ:SATS) traded up 0.28% on Friday, hitting $56.60. 173,058 shares of the stock were exchanged. The stock has a market capitalization of $5.41 billion, a P/E ratio of 44.96 and a beta of 0.69. The company has a 50 day moving average of $57.54 and a 200 day moving average of $58.52. EchoStar Corporation has a one year low of $44.01 and a one year high of $62.50.

EchoStar Corporation (NASDAQ:SATS) last posted 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). EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business had revenue of $465.08 million for the quarter, compared to analyst estimates of $455.25 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that EchoStar Corporation will post $0.83 earnings per share for the current fiscal year.

In related news, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation 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 sale, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction that occurred on 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. 73.54% of the stock is owned by company insiders.

SATS has been the subject of a number of research reports. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a research note on Friday, September 8th. They set a “hold” rating and a $65.00 target price for the company. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research note 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 assigned a buy rating to the company. EchoStar Corporation has an average rating of “Buy” and a consensus price target of $63.33.

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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.

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

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