Strs Ohio Boosts Stock Holdings in Echostar Co. (NASDAQ:SATS)

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Strs Ohio boosted its stake in shares of Echostar Co. (NASDAQ:SATS) by 57.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,849 shares of the communications equipment provider’s stock after acquiring an additional 15,562 shares during the period. Strs Ohio’s holdings in Echostar were worth $1,198,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SATS. Advisor Group Inc. grew its stake in shares of Echostar by 3,330.4% in the 4th quarter. Advisor Group Inc. now owns 789 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 766 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Echostar by 3.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 65,424 shares of the communications equipment provider’s stock worth $2,834,000 after buying an additional 2,445 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Echostar by 17,318.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,748 shares of the communications equipment provider’s stock worth $249,000 after buying an additional 5,715 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Echostar by 11.3% in the 4th quarter. Alliancebernstein L.P. now owns 25,574 shares of the communications equipment provider’s stock worth $1,108,000 after buying an additional 2,600 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Echostar by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 545,052 shares of the communications equipment provider’s stock worth $23,606,000 after buying an additional 21,863 shares in the last quarter. 45.29% of the stock is owned by institutional investors and hedge funds.

In related news, Director C Mike Schroeder sold 5,000 shares of Echostar stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $26.95, for a total transaction of $134,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 51.80% of the company’s stock.

SATS has been the subject of a number of recent research reports. ValuEngine raised shares of Echostar from a “hold” rating to a “buy” rating in a research note on Wednesday, May 6th. Raymond James reaffirmed a “strong-buy” rating and set a $54.00 price target (down from $55.00) on shares of Echostar in a research note on Monday, May 18th. BidaskClub cut shares of Echostar from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 16th. Citigroup dropped their price target on shares of Echostar from $45.00 to $36.00 in a research note on Tuesday, April 14th. Finally, Zacks Investment Research raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.67.

SATS stock opened at $27.30 on Friday. Echostar Co. has a 12 month low of $24.39 and a 12 month high of $45.15. The company has a current ratio of 6.20, a quick ratio of 6.20 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $27.40 and a 200 day moving average price of $32.45. The stock has a market cap of $2.69 billion, a PE ratio of -20.07 and a beta of 0.68.

Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, May 7th. The communications equipment provider reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.31). Echostar had a negative net margin of 6.83% and a negative return on equity of 3.41%. The company had revenue of $465.70 million for the quarter, compared to the consensus estimate of $457.70 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. Sell-side analysts forecast that Echostar Co. will post -1.23 EPS for the current year.

About Echostar

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services 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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