Earnest Partners LLC Has $20.14 Million Stake in EchoStar Corporation (SATS)

Earnest Partners LLC trimmed its stake in EchoStar Corporation (NASDAQ:SATS) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,910 shares of the communications equipment provider’s stock after selling 9,827 shares during the period. Earnest Partners LLC owned approximately 0.37% of EchoStar worth $20,140,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of EchoStar in the third quarter worth approximately $145,000. The Manufacturers Life Insurance Company raised its holdings in shares of EchoStar by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after buying an additional 207 shares during the period. Magnetar Financial LLC purchased a new stake in shares of EchoStar in the third quarter worth approximately $204,000. Cubist Systematic Strategies LLC raised its holdings in shares of EchoStar by 390.3% in the second quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after buying an additional 2,732 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of EchoStar by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock worth $227,000 after buying an additional 39 shares during the period. 44.48% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. TheStreet downgraded EchoStar from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Jefferies Group set a $70.00 price target on EchoStar and gave the stock a “hold” rating in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded EchoStar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. EchoStar currently has a consensus rating of “Buy” and an average price target of $68.33.

Shares of EchoStar Corporation (SATS) opened at $58.74 on Monday. 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 Corporation has a fifty-two week low of $49.82 and a fifty-two week high of $62.50. The firm has a market capitalization of $5,622.95, a P/E ratio of 50.21, a PEG ratio of 3.26 and a beta of 0.78.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $477.33 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. research analysts anticipate that EchoStar Corporation will post 0.97 EPS for the current year.

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About EchoStar

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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