UBS Oconnor LLC increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 73.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,873 shares of the communications equipment provider’s stock after buying an additional 52,977 shares during the period. UBS Oconnor LLC’s holdings in EchoStar Corporation were worth $7,112,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of SATS. Norges Bank bought a new position in EchoStar Corporation during the fourth quarter worth approximately $18,604,000. Barings LLC increased its position in EchoStar Corporation by 43.5% in the fourth quarter. Barings LLC now owns 12,200 shares of the communications equipment provider’s stock worth $627,000 after buying an additional 3,700 shares during the period. Guggenheim Capital LLC increased its position in EchoStar Corporation by 11.7% in the fourth quarter. Guggenheim Capital LLC now owns 26,509 shares of the communications equipment provider’s stock worth $1,362,000 after buying an additional 2,767 shares during the period. Tudor Investment Corp Et Al increased its position in EchoStar Corporation by 14.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 11,840 shares of the communications equipment provider’s stock worth $608,000 after buying an additional 1,464 shares during the period. Finally, Two Sigma Investments LP increased its position in EchoStar Corporation by 14.4% in the fourth quarter. Two Sigma Investments LP now owns 142,655 shares of the communications equipment provider’s stock worth $7,331,000 after buying an additional 17,936 shares during the period. 44.84% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Corporation (NASDAQ:SATS) traded down 0.615% on Tuesday, hitting $60.565. 25,025 shares of the company were exchanged. EchoStar Corporation has a 52-week low of $36.43 and a 52-week high of $62.50. The firm has a 50 day moving average of $59.40 and a 200-day moving average of $55.51. The stock has a market cap of $5.78 billion, a PE ratio of 33.854 and a beta of 0.65.
EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings results on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.17. The firm had revenue of $443.20 million for the quarter, compared to analysts’ expectations of $447.17 million. EchoStar Corporation had a net margin of 6.30% and a return on equity of 4.11%. During the same period in the prior year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that EchoStar Corporation will post $0.91 earnings per share for the current fiscal year.
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A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Citigroup Inc. dropped their target price on shares of EchoStar Corporation from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, March 24th.
In other EchoStar Corporation news, CEO Michael T. Dugan sold 5,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $62.24, for a total transaction of $311,200.00. Following the completion of the sale, the chief executive officer now owns 30,146 shares in the company, valued at $1,876,287.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael T. Dugan sold 10,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $60.58, for a total transaction of $605,800.00. Following the sale, the chief executive officer now owns 52,092 shares of the company’s stock, valued at approximately $3,155,733.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,862 shares of company stock valued at $3,598,258. 73.54% of the stock is owned by insiders.
About EchoStar Corporation
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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