New York State Common Retirement Fund boosted its holdings in shares of Echostar Co. (NASDAQ:SATS) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,200 shares of the communications equipment provider’s stock after buying an additional 3,500 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Echostar worth $6,021,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SATS. BlackRock Inc. grew its position in shares of Echostar by 2.7% in the second quarter. BlackRock Inc. now owns 1,981,989 shares of the communications equipment provider’s stock valued at $120,307,000 after purchasing an additional 52,406 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Echostar in the third quarter valued at about $297,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Echostar in the third quarter valued at about $515,000. Ramsey Quantitative Systems acquired a new stake in shares of Echostar in the second quarter valued at about $326,000. Finally, Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 299,543 shares during the last quarter. 44.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Echostar Co. (NASDAQ:SATS) opened at $58.90 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. Echostar Co. has a one year low of $49.82 and a one year high of $62.50. The firm has a market cap of $5,652.62, a PE ratio of 47.50, a P/E/G ratio of 3.28 and a beta of 0.78.

Echostar (NASDAQ:SATS) last released its earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.37. Echostar had a net margin of 5.55% and a return on equity of 2.85%. The business had revenue of $481.20 million during the quarter, compared to analysts’ expectations of $477.33 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. research analysts forecast that Echostar Co. will post 0.97 EPS for the current year.

Several equities research analysts have recently issued reports on SATS shares. Jefferies Group started coverage on Echostar in a research report on Friday, September 8th. They issued a “hold” rating and a $65.00 price target on the stock. Zacks Investment Research raised Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research report on Friday, November 10th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Echostar presently has a consensus rating of “Buy” and a consensus target price of $68.33.

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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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