Advisor Group Holdings Inc. decreased its position in shares of Echostar Co. (NASDAQ:SATS) by 22.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,526 shares of the communications equipment provider’s stock after selling 1,340 shares during the period. Advisor Group Holdings Inc.’s holdings in Echostar were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Echostar during the 1st quarter worth about $28,000. US Bancorp DE raised its position in shares of Echostar by 144.7% during the first quarter. US Bancorp DE now owns 974 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 576 shares during the period. Twin Tree Management LP boosted its holdings in shares of Echostar by 1,190.0% in the second quarter. Twin Tree Management LP now owns 2,851 shares of the communications equipment provider’s stock valued at $80,000 after buying an additional 2,630 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Echostar by 42.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,706 shares of the communications equipment provider’s stock worth $160,000 after acquiring an additional 1,702 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Echostar by 51.5% in the 2nd quarter. Macquarie Group Ltd. now owns 7,010 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 2,383 shares during the period. 45.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on SATS shares. BidaskClub lowered Echostar from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Zacks Investment Research raised shares of Echostar from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a report on Saturday, August 8th.
Shares of SATS traded up $1.53 during midday trading on Friday, reaching $27.10. 358,962 shares of the stock were exchanged, compared to its average volume of 400,364. The stock’s 50 day simple moving average is $27.46 and its 200 day simple moving average is $29.05. The company has a market cap of $2.66 billion, a P/E ratio of -19.08 and a beta of 0.69. Echostar Co. has a twelve month low of $23.93 and a twelve month high of $45.15. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.42.
Echostar (NASDAQ:SATS) last issued its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.18. Echostar had a negative net margin of 7.41% and a negative return on equity of 3.72%. The business had revenue of $459.47 million during the quarter, compared to analysts’ expectations of $436.65 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The business’s revenue was down .2% on a year-over-year basis. As a group, analysts predict that Echostar Co. will post -0.84 earnings per share for the current year.
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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