Renaissance Technologies LLC increased its stake in Echostar Co. (NASDAQ:SATS) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,952,680 shares of the communications equipment provider’s stock after acquiring an additional 103,300 shares during the period. Renaissance Technologies LLC owned approximately 3.08% of Echostar worth $176,866,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Echostar by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,093,821 shares of the communications equipment provider’s stock valued at $125,420,000 after purchasing an additional 30,922 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Echostar by 21.0% during the 3rd quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock valued at $115,856,000 after acquiring an additional 350,961 shares during the period. CDAM UK Ltd acquired a new stake in shares of Echostar during the 4th quarter valued at approximately $56,162,000. Geode Capital Management LLC lifted its position in shares of Echostar by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 433,014 shares of the communications equipment provider’s stock valued at $25,937,000 after acquiring an additional 1,222 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Echostar by 4.1% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 352,961 shares of the communications equipment provider’s stock valued at $20,200,000 after acquiring an additional 13,867 shares during the period. Institutional investors and hedge funds own 45.87% of the company’s stock.
Several research analysts recently issued reports on the company. Zacks Investment Research upgraded Echostar from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet upgraded Echostar from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Citigroup boosted their price objective on shares of Echostar from $71.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, February 26th. BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Finally, Jefferies Group set a $70.00 price target on shares of Echostar and gave the stock a “hold” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $71.00.
Shares of Echostar Co. (SATS) traded up $0.04 during trading on Wednesday, hitting $58.09. 284,234 shares of the stock were exchanged, compared to its average volume of 155,329. The firm has a market cap of $5,650.31, a price-to-earnings ratio of 14.27, a PEG ratio of 3.24 and a beta of 0.76. Echostar Co. has a 1-year low of $52.11 and a 1-year high of $62.50. The company has a current ratio of 8.98, a quick ratio of 8.78 and a debt-to-equity ratio of 0.86.
Echostar (NASDAQ:SATS) last released its quarterly earnings data on Thursday, February 22nd. The communications equipment provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Echostar had a return on equity of 2.06% and a net margin of 20.82%. The business had revenue of $506.05 million for the quarter, compared to analyst estimates of $508.33 million. During the same quarter last year, the company earned $0.40 EPS. Echostar’s revenue was up 6.4% compared to the same quarter last year. equities analysts expect that Echostar Co. will post 0.98 EPS for the current year.
In related news, CFO David Rayner sold 4,073 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $59.67, for a total transaction of $243,035.91. Following the completion of the sale, the chief financial officer now directly owns 7,246 shares in the company, valued at $432,368.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael T. Dugan sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $62.11, for a total transaction of $111,798.00. Following the sale, the chief executive officer now owns 26,746 shares of the company’s stock, valued at $1,661,194.06. The disclosure for this sale can be found here. Insiders sold 18,381 shares of company stock worth $1,105,920 in the last 90 days. 73.54% of the stock is owned by company insiders.
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Echostar 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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