Echostar Co. (SATS) Stake Held by Gouger William R

Echostar Co. (SATS) Stake Held by  				 					Gouger William R

recently disclosed that they own a 19.8% stake in Echostar Co. (NASDAQ:SATS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, May 31st. The investor owns 11,816,081 shares of the stock valued at about $697,739,583. The reporting parties listed on the disclosure included William R Gouger, Centennial Fiduciary Management LLC, Ergen 2010 Family Wyoming Trust, Ergen ThreeYear 2014 SATS GRAT and Ergen ThreeYear 2015 SATS GRAT. The filing is available through Edgar at this link.

Gouger William R

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Echostar by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock worth $858,000 after buying an additional 89 shares during the last quarter. Credit Suisse AG raised its position in shares of Echostar by 0.3% in the first quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock worth $2,334,000 after buying an additional 130 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Echostar by 1.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,620 shares of the communications equipment provider’s stock worth $597,000 after buying an additional 136 shares during the last quarter. Amalgamated Bank raised its position in shares of Echostar by 3.2% in the first quarter. Amalgamated Bank now owns 6,527 shares of the communications equipment provider’s stock worth $372,000 after buying an additional 200 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Echostar by 0.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 53,034 shares of the communications equipment provider’s stock worth $2,725,000 after buying an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 44.28% of the company’s stock.

Shares of Echostar Co. (SATS) traded up 0.65% on Wednesday, hitting $59.05. The stock had a trading volume of 167,104 shares. Echostar Co. has a 12 month low of $36.43 and a 12 month high of $59.80. The firm’s 50-day moving average price is $57.74 and its 200 day moving average price is $54.37. The firm has a market cap of $5.64 billion, a P/E ratio of 33.01 and a beta of 0.68.

Echostar (NASDAQ:SATS) last released its quarterly earnings results on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.17. Echostar had a net margin of 6.60% and a return on equity of 5.28%. The firm had revenue of $443.20 million during the quarter, compared to the consensus estimate of $447.17 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Echostar Co. will post $0.65 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Echostar from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Citigroup Inc cut their price objective on Echostar from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, March 24th.

In related news, insider Pradman P. Kaul sold 5,001 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $59.75, for a total transaction of $298,809.75. Following the completion of the transaction, the insider now owns 5,001 shares in the company, valued at approximately $298,809.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Dean Manson sold 1,469 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $58.07, for a total transaction of $85,304.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,916 shares of company stock valued at $1,341,428. Insiders own 61.04% of the company’s stock.

Echostar 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SATS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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