State of Alaska Department of Revenue Buys New Position in Echostar Co. (SATS)

State of Alaska Department of Revenue bought a new stake in shares of Echostar Co. (NASDAQ:SATS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,300 shares of the communications equipment provider’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds have also bought and sold shares of SATS. Vanguard Group Inc. grew its stake in Echostar by 11.1% in the second quarter. Vanguard Group Inc. now owns 3,001,260 shares of the communications equipment provider’s stock worth $182,177,000 after purchasing an additional 299,543 shares during the period. Thornburg Investment Management Inc. grew its stake in Echostar by 21.0% in the third quarter. Thornburg Investment Management Inc. now owns 2,024,396 shares of the communications equipment provider’s stock worth $115,856,000 after purchasing an additional 350,961 shares during the period. BlackRock Inc. grew its stake in Echostar by 2.7% in the second quarter. BlackRock Inc. now owns 1,981,989 shares of the communications equipment provider’s stock worth $120,307,000 after purchasing an additional 52,406 shares during the period. State Street Corp grew its stake in Echostar by 2.7% in the second quarter. State Street Corp now owns 693,263 shares of the communications equipment provider’s stock worth $42,081,000 after purchasing an additional 18,468 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in Echostar by 1.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 635,000 shares of the communications equipment provider’s stock worth $36,341,000 after purchasing an additional 10,000 shares during the period. 44.51% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Michael T. Dugan sold 1,800 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $62.11, for a total value of $111,798.00. Following the sale, the chief executive officer now directly owns 26,746 shares of the company’s stock, valued at $1,661,194.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael T. Dugan sold 3,508 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $62.00, for a total value of $217,496.00. The disclosure for this sale can be found here. Corporate insiders own 73.54% of the company’s stock.

Several equities research analysts recently weighed in on the company. BidaskClub raised Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Jefferies Group set a $70.00 price target on Echostar and gave the stock a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Friday, November 10th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.33.

Shares of Echostar Co. (SATS) opened at $58.01 on Friday. Echostar Co. has a 12 month low of $51.54 and a 12 month high of $62.50. The company has a market capitalization of $5,642.09, a price-to-earnings ratio of 46.78, a PEG ratio of 3.09 and a beta of 0.74. The company has a quick ratio of 8.40, a current ratio of 8.61 and a debt-to-equity ratio of 0.93.

Echostar (NASDAQ:SATS) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.37. Echostar had a return on equity of 2.85% and a net margin of 5.55%. The firm had revenue of $481.20 million for the quarter, compared to analysts’ expectations of $477.33 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts anticipate that Echostar Co. will post 0.97 EPS for the current year.

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Echostar 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 (NASDAQ:SATS)

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