Harvest Capital Strategies LLC Lowers Position in Echostar Co. (SATS)
Harvest Capital Strategies LLC reduced its position in shares of Echostar Co. (NASDAQ:SATS) by 35.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 220,000 shares of the communications equipment provider’s stock after selling 121,894 shares during the quarter. Echostar makes up approximately 2.3% of Harvest Capital Strategies LLC’s holdings, making the stock its 10th biggest holding. Harvest Capital Strategies LLC’s holdings in Echostar were worth $13,178,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of SATS. SG Americas Securities LLC bought a new position in Echostar in the 3rd quarter worth $145,000. The Manufacturers Life Insurance Company raised its holdings in Echostar by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after purchasing an additional 207 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Echostar by 124.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,192 shares of the communications equipment provider’s stock worth $191,000 after purchasing an additional 1,772 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Echostar in the 4th quarter worth $197,000. Finally, CIBC Asset Management Inc bought a new position in Echostar in the 4th quarter worth $200,000. Institutional investors own 45.87% of the company’s stock.
In related news, CFO David Rayner sold 4,073 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $59.67, for a total transaction of $243,035.91. Following the sale, the chief financial officer now directly owns 7,246 shares of the company’s stock, valued at approximately $432,368.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael T. Dugan sold 1,800 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $62.11, for a total transaction of $111,798.00. Following the sale, the chief executive officer now directly owns 26,746 shares in the company, valued at $1,661,194.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,381 shares of company stock valued at $1,105,920. 73.54% of the stock is owned by company insiders.
Echostar Co. (NASDAQ SATS) opened at $58.04 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 8.98 and a quick ratio of 8.78. The stock has a market cap of $5,650.31, a PE ratio of 14.26, a P/E/G ratio of 3.24 and a beta of 0.76. Echostar Co. has a 12 month low of $52.11 and a 12 month high of $62.50.
Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, February 22nd. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). The business had revenue of $506.05 million during the quarter, compared to the consensus estimate of $508.33 million. Echostar had a return on equity of 2.06% and a net margin of 20.82%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. analysts anticipate that Echostar Co. will post 0.98 earnings per share for the current year.
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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