EchoStar Corporation (SATS) Shares Sold by C M Bidwell & Associates Ltd.
C M Bidwell & Associates Ltd. decreased its stake in EchoStar Corporation (NASDAQ:SATS) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,995 shares of the communications equipment provider’s stock after selling 685 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in EchoStar Corporation were worth $546,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Partners Fund LP acquired a new position in EchoStar Corporation during the first quarter worth about $142,000. Cubist Systematic Strategies LLC boosted its position in EchoStar Corporation by 390.3% during the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after acquiring an additional 2,732 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in EchoStar Corporation during the first quarter worth about $210,000. South State Corp acquired a new position in EchoStar Corporation during the second quarter worth about $234,000. Finally, Zweig DiMenna Associates LLC acquired a new position in EchoStar Corporation during the second quarter worth about $267,000. Institutional investors and hedge funds own 45.04% of the company’s stock.
In other EchoStar Corporation news, insider Anders N. Johnson sold 7,128 shares of the firm’s stock in a transaction dated 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 directly owns 2,000 shares in the company, valued at approximately $117,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Rayner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were 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. Company insiders own 73.54% of the company’s stock.
EchoStar Corporation (SATS) traded up 0.28% during trading on Friday, reaching $56.60. 173,058 shares of the company were exchanged. EchoStar Corporation has a 12 month low of $44.01 and a 12 month high of $62.50. The stock has a 50 day moving average price of $57.54 and a 200 day moving average price of $58.52. The firm has a market capitalization of $5.41 billion, a PE ratio of 44.96 and a beta of 0.69.
EchoStar Corporation (NASDAQ:SATS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $455.25 million. During the same quarter last year, the business posted $0.47 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that EchoStar Corporation will post $0.83 EPS for the current fiscal year.
SATS has been the topic of a number of recent research reports. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a research report on Friday, September 8th. They set a “hold” rating and a $65.00 price target on the stock. TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Finally, BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. EchoStar Corporation has an average rating of “Buy” and a consensus price target of $63.33.
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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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