Stone Ridge Asset Management LLC Purchases New Position in Echostar Co. (SATS)

Stone Ridge Asset Management LLC purchased a new stake in Echostar Co. (NASDAQ:SATS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,764 shares of the communications equipment provider’s stock, valued at approximately $645,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Deutsche Bank AG boosted its stake in Echostar by 4.1% during the 4th quarter. Deutsche Bank AG now owns 71,544 shares of the communications equipment provider’s stock worth $4,283,000 after purchasing an additional 2,802 shares during the last quarter. Glenhill Advisors LLC boosted its stake in Echostar by 0.7% during the 4th quarter. Glenhill Advisors LLC now owns 1,413,016 shares of the communications equipment provider’s stock worth $84,640,000 after purchasing an additional 9,434 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Echostar by 3.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,952,680 shares of the communications equipment provider’s stock worth $176,866,000 after purchasing an additional 103,300 shares during the last quarter. Geode Capital Management LLC boosted its stake in Echostar by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 433,014 shares of the communications equipment provider’s stock worth $25,937,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Echostar by 75.1% during the 4th quarter. Allianz Asset Management GmbH now owns 60,444 shares of the communications equipment provider’s stock worth $3,621,000 after purchasing an additional 25,924 shares during the last quarter. 45.87% of the stock is currently owned by institutional investors.

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In other news, CFO David Rayner sold 4,000 shares of Echostar stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $58.76, for a total transaction of $235,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael T. Dugan sold 1,800 shares of Echostar stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $62.11, for a total value of $111,798.00. Following the transaction, the chief executive officer now owns 26,746 shares in the company, valued at approximately $1,661,194.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,381 shares of company stock worth $1,105,920. Insiders own 73.54% of the company’s stock.

SATS stock opened at $53.60 on Friday. Echostar Co. has a fifty-two week low of $52.11 and a fifty-two week high of $62.50. The company has a current ratio of 8.98, a quick ratio of 8.78 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $5,289.98, a price-to-earnings ratio of 64.94, a PEG ratio of 3.03 and a beta of 0.76.

Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, February 22nd. The communications equipment provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). Echostar had a return on equity of 2.06% and a net margin of 20.82%. The company had revenue of $506.05 million for the quarter, compared to analysts’ expectations of $508.33 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. research analysts expect that Echostar Co. will post 0.98 earnings per share for the current year.

Several brokerages have issued reports on SATS. Zacks Investment Research cut shares of Echostar from a “buy” rating to a “sell” rating in a research note on Wednesday, February 28th. BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Jefferies Group set a $70.00 target price on shares of Echostar and gave the stock a “hold” rating in a research note on Friday, December 1st. TheStreet raised shares of Echostar from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Citigroup lifted their target price on shares of Echostar from $71.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $71.00.

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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.

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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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