EchoStar Corporation (SATS) Stake Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in shares of EchoStar Corporation (NASDAQ:SATS) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,071 shares of the communications equipment provider’s stock after buying an additional 89 shares during the period. Public Employees Retirement System of Ohio’s holdings in EchoStar Corporation were worth $858,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SATS. Renaissance Technologies LLC increased its stake in EchoStar Corporation by 6.8% in the first quarter. Renaissance Technologies LLC now owns 2,748,080 shares of the communications equipment provider’s stock worth $156,503,000 after buying an additional 175,100 shares during the period. BlackRock Inc. boosted its position in EchoStar Corporation by 11,213.9% in the first quarter. BlackRock Inc. now owns 1,929,583 shares of the communications equipment provider’s stock worth $109,889,000 after buying an additional 1,912,528 shares during the period. Dimensional Fund Advisors LP boosted its position in EchoStar Corporation by 14.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,276,144 shares of the communications equipment provider’s stock worth $72,670,000 after buying an additional 157,545 shares during the period. State Street Corp boosted its position in EchoStar Corporation by 8.0% in the first quarter. State Street Corp now owns 674,795 shares of the communications equipment provider’s stock worth $38,433,000 after buying an additional 50,185 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of EchoStar Corporation by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 594,379 shares of the communications equipment provider’s stock worth $33,850,000 after buying an additional 2,709 shares in the last quarter. 44.78% of the stock is owned by institutional investors and hedge funds.

Shares of EchoStar Corporation (SATS) opened at 56.94 on Friday. The stock has a 50 day moving average of $59.83 and a 200-day moving average of $57.73. EchoStar Corporation has a 1-year low of $37.30 and a 1-year high of $62.50. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 45.23 and a beta of 0.70.

EchoStar Corporation (NASDAQ:SATS) last announced its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.05. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities analysts anticipate that EchoStar Corporation will post $0.56 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research raised shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, May 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.33.

In other EchoStar Corporation news, insider Pradman P. Kaul sold 14,999 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $58.25, for a total value of $873,691.75. Following the transaction, the insider now directly owns 4,999 shares of the company’s stock, valued at approximately $291,191.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael T. Dugan sold 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $60.58, for a total transaction of $605,800.00. Following the transaction, the chief executive officer now directly owns 52,092 shares in the company, valued at $3,155,733.36. The disclosure for this sale can be found here. Insiders sold a total of 56,946 shares of company stock worth $3,429,331 over the last three months. 73.54% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for EchoStar Corporation (NASDAQ:SATS)

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