Victory Capital Management Inc. raised its holdings in EchoStar Corporation (NASDAQ:SATS) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,725 shares of the communications equipment provider’s stock after purchasing an additional 2,312 shares during the quarter. Victory Capital Management Inc.’s holdings in EchoStar were worth $1,701,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised 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 valued at $182,177,000 after buying an additional 299,543 shares during the period. Renaissance Technologies LLC grew its stake in EchoStar by 4.1% during the second quarter. Renaissance Technologies LLC now owns 2,861,780 shares of the communications equipment provider’s stock valued at $173,710,000 after acquiring an additional 113,700 shares in the last quarter. BlackRock Inc. grew its stake in EchoStar by 2.7% during the second quarter. BlackRock Inc. now owns 1,981,989 shares of the communications equipment provider’s stock valued at $120,307,000 after acquiring an additional 52,406 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in EchoStar by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,315,246 shares of the communications equipment provider’s stock valued at $79,837,000 after acquiring an additional 39,102 shares in the last quarter. Finally, State Street Corp grew its stake in EchoStar by 2.7% during the second quarter. State Street Corp now owns 693,263 shares of the communications equipment provider’s stock valued at $42,081,000 after acquiring an additional 18,468 shares in the last quarter. Hedge funds and other institutional investors own 44.48% of the company’s stock.
Several equities analysts recently weighed in on SATS shares. Zacks Investment Research raised shares of EchoStar from a “hold” rating to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Friday, November 10th. Jefferies Group assumed coverage on shares of EchoStar in a research note on Friday, September 8th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, TheStreet cut shares of EchoStar from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $68.33.
EchoStar Corporation (NASDAQ SATS) traded down $0.63 during trading hours on Wednesday, hitting $58.17. 97,851 shares of the stock traded hands, compared to its average volume of 163,486. EchoStar Corporation has a twelve month low of $49.82 and a twelve month high of $62.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 8.40 and a current ratio of 8.61. The company has a market cap of $5,699.53, a price-to-earnings ratio of 50.89, a P/E/G ratio of 3.31 and a beta of 0.78.
EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.37. The firm had revenue of $481.20 million for the quarter, compared to the consensus estimate of $477.33 million. EchoStar had a net margin of 5.55% and a return on equity of 2.85%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. sell-side analysts expect that EchoStar Corporation will post 0.97 EPS for the current fiscal year.
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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