Man Group plc grew its position in shares of Echostar Co. (NASDAQ:SATS) by 145.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,503 shares of the communications equipment provider’s stock after buying an additional 25,803 shares during the period. Man Group plc’s holdings in Echostar were worth $2,017,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SATS. Capital Fund Management S.A. bought a new position in shares of Echostar in the second quarter worth $266,000. First Hawaiian Bank bought a new position in shares of Echostar in the third quarter worth $282,000. New Jersey Better Educational Savings Trust bought a new position in shares of Echostar in the third quarter worth $325,000. Jane Street Group LLC bought a new position in shares of Echostar in the second quarter worth $336,000. Finally, Natixis bought a new position in shares of Echostar in the second quarter worth $341,000. Hedge funds and other institutional investors own 47.38% of the company’s stock.

SATS has been the topic of a number of recent analyst reports. Citigroup decreased their price target on Echostar from $72.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, December 17th. BidaskClub upgraded Echostar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.00.

NASDAQ:SATS opened at $38.84 on Friday. The stock has a market capitalization of $3.71 billion, a P/E ratio of 46.24 and a beta of 0.93. The company has a current ratio of 2.70, a quick ratio of 2.65 and a debt-to-equity ratio of 0.61. Echostar Co. has a twelve month low of $33.58 and a twelve month high of $62.29.

Echostar (NASDAQ:SATS) last released its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $533.00 million for the quarter, compared to analyst estimates of $554.60 million. Echostar had a return on equity of 1.10% and a net margin of 18.63%. Echostar’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Equities analysts predict that Echostar Co. will post 0.51 EPS for the current fiscal year.

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Echostar Company Profile

EchoStar Corporation provides satellite service operations and video delivery solutions 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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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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