EchoStar Corporation (SATS) Stake Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its position in EchoStar Corporation (NASDAQ:SATS) by 390.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,432 shares of the communications equipment provider’s stock after acquiring an additional 2,732 shares during the period. Cubist Systematic Strategies LLC’s holdings in EchoStar Corporation were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of EchoStar Corporation by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock worth $227,000 after purchasing an additional 39 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of EchoStar Corporation by 0.4% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 10,114 shares of the communications equipment provider’s stock worth $614,000 after purchasing an additional 42 shares in the last quarter. US Bancorp DE raised its stake in shares of EchoStar Corporation by 0.7% during the 2nd quarter. US Bancorp DE now owns 12,395 shares of the communications equipment provider’s stock worth $753,000 after purchasing an additional 82 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of EchoStar Corporation by 0.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock worth $858,000 after purchasing an additional 89 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of EchoStar Corporation by 0.3% during the 1st quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock worth $2,334,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 44.93% of the company’s stock.

EchoStar Corporation (NASDAQ SATS) opened at $52.48 on Friday. The company has a quick ratio of 8.88, a current ratio of 9.11 and a debt-to-equity ratio of 0.94. The firm has a market cap of $5,071.26, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 3.79 and a beta of 0.76.

EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The firm had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same period last year, the company earned $0.47 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. equities research analysts predict that EchoStar Corporation will post 0.65 EPS for the current year.

In other news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total value of $418,556.16. Following the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $117,440. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Rayner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 73.54% of the company’s stock.

A number of research analysts recently weighed in on SATS shares. BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Finally, Jefferies Group LLC began coverage on EchoStar Corporation in a report on Friday, September 8th. They issued a “hold” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. EchoStar Corporation currently has a consensus rating of “Buy” and a consensus target price of $63.33.

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About EchoStar Corporation

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

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