California State Teachers Retirement System increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 99,844 shares of the company’s stock after buying an additional 1,100 shares during the period. California State Teachers Retirement System owned about 0.11% of EchoStar Corporation worth $4,376,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Quaker Capital Investments LLC increased its position in EchoStar Corporation by 769.0% in the second quarter. Quaker Capital Investments LLC now owns 236,368 shares of the company’s stock worth $9,384,000 after buying an additional 209,168 shares during the last quarter. Vanguard Group Inc. increased its position in EchoStar Corporation by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,253,304 shares of the company’s stock worth $129,157,000 after buying an additional 148,602 shares during the last quarter. ACT II Management LP acquired a new position in EchoStar Corporation during the second quarter worth about $3,242,000. Prudential Financial Inc. increased its position in EchoStar Corporation by 93.7% in the second quarter. Prudential Financial Inc. now owns 139,069 shares of the company’s stock worth $5,521,000 after buying an additional 67,257 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in EchoStar Corporation during the second quarter worth about $2,651,000. 44.29% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Corporation (NASDAQ:SATS) traded down 0.40% during midday trading on Friday, reaching $52.66. 270,210 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $52.29 and its 200 day moving average is $45.33. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 23.62 and a beta of 0.82. EchoStar Corporation has a 52 week low of $32.13 and a 52 week high of $53.79.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. EchoStar Corporation had a net margin of 6.60% and a return on equity of 5.28%. The firm had revenue of $742 million for the quarter, compared to the consensus estimate of $735.61 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that EchoStar Corporation will post $1.93 earnings per share for the current year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Macquarie reissued a “positive” rating and issued a $55.00 price objective on shares of EchoStar Corporation in a report on Friday, November 25th. Finally, TheStreet raised shares of EchoStar Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th.
In other news, EVP Kranti Kilaru sold 69,202 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $50.02, for a total transaction of $3,461,484.04. Following the transaction, the executive vice president now owns 5,423 shares in the company, valued at $271,258.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 61.04% of the company’s stock.
About EchoStar Corporation
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
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