2,537 Shares in Echostar Co. (SATS) Purchased by SG Americas Securities LLC
SG Americas Securities LLC acquired a new position in shares of Echostar Co. (NASDAQ:SATS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,537 shares of the communications equipment provider’s stock, valued at approximately $145,000.
Several other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Echostar by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after acquiring an additional 207 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Echostar by 4.1% in the second quarter. State of Wisconsin Investment Board now owns 9,407 shares of the communications equipment provider’s stock valued at $571,000 after buying an additional 370 shares during the period. Utah Retirement Systems boosted its stake in shares of Echostar by 4.8% in the second quarter. Utah Retirement Systems now owns 8,662 shares of the communications equipment provider’s stock valued at $525,000 after buying an additional 400 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Echostar by 12.1% in the second quarter. Pacer Advisors Inc. now owns 7,054 shares of the communications equipment provider’s stock valued at $428,000 after buying an additional 762 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Echostar by 2.2% in the second quarter. UBS Asset Management Americas Inc. now owns 39,775 shares of the communications equipment provider’s stock valued at $2,414,000 after buying an additional 873 shares during the period. Institutional investors own 44.48% of the company’s stock.
Shares of Echostar Co. (NASDAQ:SATS) opened at $59.22 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 8.61 and a quick ratio of 8.40. The stock has a market capitalization of $5,640.00, a P/E ratio of 50.62, a P/E/G ratio of 3.27 and a beta of 0.78. Echostar Co. has a 12 month low of $49.82 and a 12 month high of $62.50.
Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, November 8th. The communications equipment provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.37. The business had revenue of $481.20 million during the quarter, compared to analysts’ expectations of $477.33 million. Echostar had a return on equity of 2.85% and a net margin of 5.55%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. research analysts predict that Echostar Co. will post 0.97 EPS for the current year.
SATS has been the subject of several recent research reports. Zacks Investment Research upgraded Echostar from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research note on Friday, November 10th. Jefferies Group initiated coverage on Echostar in a research note on Friday, September 8th. They issued a “hold” rating and a $65.00 price target for the company. Two research 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’s stock. Echostar has a consensus rating of “Buy” and a consensus target price of $68.33.
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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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