Victory Capital Management Inc. trimmed its holdings in EchoStar Co. (NASDAQ:SATS – Free Report) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,599 shares of the communications equipment provider’s stock after selling 6,184 shares during the quarter. Victory Capital Management Inc.’s holdings in EchoStar were worth $305,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of SATS. MetLife Investment Management LLC lifted its stake in EchoStar by 26.9% in the 1st quarter. MetLife Investment Management LLC now owns 18,851 shares of the communications equipment provider’s stock worth $459,000 after purchasing an additional 3,998 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in EchoStar by 43.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,969 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 9,655 shares in the last quarter. BlackRock Inc. lifted its stake in EchoStar by 3.0% in the 1st quarter. BlackRock Inc. now owns 3,193,659 shares of the communications equipment provider’s stock worth $77,734,000 after purchasing an additional 93,524 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of EchoStar by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,688,661 shares of the communications equipment provider’s stock valued at $41,102,000 after buying an additional 63,135 shares during the period. Finally, Covestor Ltd raised its position in shares of EchoStar by 2,809.6% during the 1st quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock valued at $133,000 after buying an additional 5,282 shares during the period. 97.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SATS has been the topic of several analyst reports. Citigroup reduced their price target on shares of EchoStar from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, October 16th. Raymond James lifted their price target on shares of EchoStar from $28.00 to $54.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on EchoStar in a research report on Sunday. They issued a “buy” rating on the stock.
EchoStar Stock Up 4.3 %
Shares of NASDAQ SATS opened at $15.44 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 11.52 and a beta of 0.77. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.41. EchoStar Co. has a 52-week low of $13.21 and a 52-week high of $24.80. The business’s 50 day moving average is $16.03 and its two-hundred day moving average is $17.23.
EchoStar (NASDAQ:SATS – Get Free Report) last announced its earnings results on Tuesday, August 8th. The communications equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. The company had revenue of $453.11 million for the quarter, compared to analyst estimates of $451.90 million. EchoStar had a return on equity of 3.78% and a net margin of 5.92%. Research analysts predict that EchoStar Co. will post 1.06 EPS for the current year.
EchoStar Company Profile
EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.
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