Trexquant Investment LP Has $296,000 Stake in Echostar Co. (NASDAQ:SATS)

Trexquant Investment LP decreased its position in Echostar Co. (NASDAQ:SATS) by 41.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,683 shares of the communications equipment provider’s stock after selling 4,706 shares during the quarter. Trexquant Investment LP’s holdings in Echostar were worth $296,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Echostar by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 502,026 shares of the communications equipment provider’s stock valued at $18,434,000 after purchasing an additional 14,085 shares in the last quarter. Bank of Montreal Can raised its position in shares of Echostar by 391.1% in the 1st quarter. Bank of Montreal Can now owns 9,497 shares of the communications equipment provider’s stock valued at $346,000 after purchasing an additional 7,563 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Echostar by 198.8% in the 1st quarter. SG Americas Securities LLC now owns 34,229 shares of the communications equipment provider’s stock valued at $1,248,000 after purchasing an additional 22,773 shares in the last quarter. Boston Partners acquired a new position in shares of Echostar in the 1st quarter valued at approximately $2,822,000. Finally, California Public Employees Retirement System raised its position in shares of Echostar by 3.5% in the 1st quarter. California Public Employees Retirement System now owns 115,158 shares of the communications equipment provider’s stock valued at $4,198,000 after purchasing an additional 3,927 shares in the last quarter. Institutional investors and hedge funds own 46.63% of the company’s stock.

In other news, CEO Michael T. Dugan sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.00% of the stock is currently owned by insiders.

Shares of NASDAQ SATS traded up $0.16 during trading on Friday, reaching $44.04. The stock had a trading volume of 666,095 shares, compared to its average volume of 446,395. Echostar Co. has a one year low of $33.58 and a one year high of $48.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.94 and a current ratio of 6.10. The stock has a market cap of $4.27 billion, a PE ratio of 115.89 and a beta of 0.79. The firm’s 50 day moving average price is $42.44 and its two-hundred day moving average price is $41.21.

Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.17). Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. The firm had revenue of $537.12 million during the quarter, compared to the consensus estimate of $538.80 million. During the same quarter last year, the firm posted $0.80 earnings per share. Echostar’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts expect that Echostar Co. will post 1.01 earnings per share for the current year.

A number of equities analysts have issued reports on SATS shares. Raymond James cut their target price on Echostar from $67.00 to $62.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, May 21st. BidaskClub raised Echostar from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Echostar from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 13th. Finally, Daiwa Capital Markets lowered Echostar from an “outperform” rating to a “neutral” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.00.

Echostar Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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