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.

TRADEMARK VIOLATION WARNING: This report was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/08/echostar-corporation-sats-shares-sold-by-c-m-bidwell-associates-ltd.html.

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)

Receive News & Stock Ratings for EchoStar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EchoStar Corporation and related stocks with our FREE daily email newsletter.