Gotham Asset Management LLC Buys New Holdings in EchoStar Corporation (SATS)
Gotham Asset Management LLC bought a new position in EchoStar Corporation (NASDAQ:SATS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 87,061 shares of the communications equipment provider’s stock, valued at approximately $5,285,000. Gotham Asset Management LLC owned about 0.09% of EchoStar Corporation as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. lifted its holdings in EchoStar Corporation by 28.2% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 225,914 shares of the communications equipment provider’s stock worth $13,712,000 after purchasing an additional 49,628 shares during the last quarter. AHL Partners LLP acquired a new stake in EchoStar Corporation in the 2nd quarter worth approximately $1,913,000. Goldman Sachs Group Inc. lifted its holdings in EchoStar Corporation by 75.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 116,285 shares of the communications equipment provider’s stock worth $7,059,000 after purchasing an additional 49,918 shares during the last quarter. Clinton Group Inc. acquired a new stake in EchoStar Corporation in the 2nd quarter worth approximately $1,676,000. Finally, Stifel Financial Corp acquired a new stake in EchoStar Corporation in the 2nd quarter worth approximately $424,000. Hedge funds and other institutional investors own 45.04% of the company’s stock.
EchoStar Corporation (NASDAQ:SATS) opened at 56.31 on Wednesday. EchoStar Corporation has a one year low of $44.01 and a one year high of $62.50. The stock’s 50 day moving average price is $57.52 and its 200-day moving average price is $58.59. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 44.73 and a beta of 0.69.
EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings data 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 business had revenue of $465.08 million during the quarter, compared to analyst estimates of $455.25 million. EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts expect that EchoStar Corporation will post $0.83 EPS for the current fiscal year.
Several research firms recently weighed in on SATS. Jefferies Group LLC started coverage on EchoStar Corporation in a report on Friday, September 8th. They issued a “hold” rating and a $65.00 target price for the company. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Finally, BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. EchoStar Corporation has an average rating of “Buy” and an average price target of $63.33.
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 stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $117,440. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $292,500.00. The disclosure for this sale can be found here. Company insiders own 73.54% of the company’s stock.
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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.
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