Beese Fulmer Investment Management Inc. Lowers Position in EchoStar Corp. (SATS)
Beese Fulmer Investment Management Inc. cut its position in shares of EchoStar Corp. (NASDAQ:SATS) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 33,684 shares of the company’s stock after selling 310 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in EchoStar Corp. were worth $1,337,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in EchoStar Corp. by 12.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,903 shares of the company’s stock worth $115,000 after buying an additional 330 shares during the period. Royal Bank of Canada increased its stake in EchoStar Corp. by 90.1% in the first quarter. Royal Bank of Canada now owns 4,689 shares of the company’s stock worth $209,000 after buying an additional 2,223 shares during the period. BlackRock Inc. increased its stake in EchoStar Corp. by 206.7% in the first quarter. BlackRock Inc. now owns 6,333 shares of the company’s stock worth $281,000 after buying an additional 4,268 shares during the period. Bank of Montreal Can acquired a new stake in EchoStar Corp. during the second quarter worth about $343,000. Finally, Alpha Windward LLC acquired a new stake in EchoStar Corp. during the second quarter worth about $400,000. 44.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EchoStar Corp. (NASDAQ:SATS) traded up 0.33% during trading on Wednesday, reaching $45.99. 53,555 shares of the company were exchanged. EchoStar Corp. has a one year low of $30.86 and a one year high of $47.54. The firm’s 50 day moving average price is $41.97 and its 200 day moving average price is $40.22. The company has a market capitalization of $4.32 billion, a PE ratio of 21.19 and a beta of 0.99.
EchoStar Corp. (NASDAQ:SATS) last released its earnings results on Tuesday, August 9th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.17. The business earned $757.60 million during the quarter, compared to the consensus estimate of $766.99 million. EchoStar Corp. had a net margin of 6.31% and a return on equity of 5.17%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities research analysts forecast that EchoStar Corp. will post $1.78 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on SATS. Citigroup Inc. lifted their price objective on shares of EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Zacks Investment Research downgraded shares of EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Macquarie reiterated an “outperform” rating and issued a $55.00 price objective on shares of EchoStar Corp. in a report on Friday, July 8th. Finally, TheStreet downgraded shares of EchoStar Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th.
About EchoStar Corp.
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EchoStar Corp. (NASDAQ:SATS).
Receive News & Ratings for EchoStar Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EchoStar Corp. and related companies with MarketBeat.com's FREE daily email newsletter.