Lazard Asset Management LLC raised its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 23.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,146 shares of the communications equipment provider’s stock after buying an additional 30,642 shares during the quarter. Lazard Asset Management LLC owned about 0.17% of EchoStar Corporation worth $9,962,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of EchoStar Corporation by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,734 shares of the communications equipment provider’s stock valued at $227,000 after purchasing an additional 39 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of EchoStar Corporation by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,114 shares of the communications equipment provider’s stock valued at $614,000 after purchasing an additional 42 shares in the last quarter. US Bancorp DE raised its stake in shares of EchoStar Corporation by 0.7% in the second quarter. US Bancorp DE now owns 12,395 shares of the communications equipment provider’s stock valued at $753,000 after purchasing an additional 82 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of EchoStar Corporation by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock valued at $858,000 after purchasing an additional 89 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of EchoStar Corporation by 0.3% in the first quarter. Credit Suisse AG now owns 40,993 shares of the communications equipment provider’s stock valued at $2,334,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 45.04% of the company’s stock.

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In other EchoStar Corporation news, CFO David Rayner sold 5,000 shares of EchoStar Corporation stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anders N. Johnson sold 7,128 shares of EchoStar Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total value of $418,556.16. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $117,440. The disclosure for this sale can be found here. Company insiders own 73.54% of the company’s stock.

EchoStar Corporation (NASDAQ SATS) opened at 57.76 on Friday. EchoStar Corporation has a 52 week low of $39.65 and a 52 week high of $62.50. The company has a 50 day moving average price of $58.16 and a 200-day moving average price of $58.30. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 45.88 and a beta of 0.72.

EchoStar Corporation (NASDAQ:SATS) last released its quarterly earnings results on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.05). The firm had revenue of $465.08 million for the quarter, compared to analyst estimates of $455.25 million. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. Equities analysts predict that EchoStar Corporation will post $0.83 earnings per share for the current year.

A number of brokerages recently commented on SATS. TheStreet lowered EchoStar Corporation from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. BidaskClub lowered EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC began coverage on EchoStar Corporation in a research note on Friday, September 8th. They issued a “hold” rating and a $65.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. EchoStar Corporation currently has a consensus rating of “Hold” and a consensus target price of $63.00.

EchoStar Corporation Profile

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.

Institutional Ownership by Quarter for EchoStar Corporation (NASDAQ:SATS)

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