BW Gestao de Investimentos Ltda. Continues to Hold Holdings in EchoStar Corporation (SATS)
BW Gestao de Investimentos Ltda. held its position in EchoStar Corporation (NASDAQ:SATS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,610 shares of the communications equipment provider’s stock at the close of the second quarter. BW Gestao de Investimentos Ltda.’s holdings in EchoStar Corporation were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Partners Fund LP purchased a new position in EchoStar Corporation during the 1st quarter worth approximately $142,000. The Manufacturers Life Insurance Company raised its position in EchoStar Corporation by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,909 shares of the communications equipment provider’s stock worth $177,000 after buying an additional 207 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in EchoStar Corporation by 390.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,432 shares of the communications equipment provider’s stock worth $208,000 after buying an additional 2,732 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in EchoStar Corporation during the 1st quarter worth approximately $210,000. Finally, South State Corp purchased a new position in EchoStar Corporation during the 2nd quarter worth approximately $234,000. 45.04% of the stock is owned by institutional investors.
SATS has been the subject of a number of recent research reports. Jefferies Group LLC initiated coverage on shares of EchoStar Corporation in a research report on Friday, September 8th. They set a “hold” rating and a $65.00 price target for the company. BidaskClub lowered shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet lowered shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $63.33.
In other news, insider Anders N. Johnson sold 7,128 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.72, for a total transaction of $418,556.16. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $117,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Rayner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $58.50, for a total value of $292,500.00. The disclosure for this sale can be found here. 73.54% of the stock is owned by corporate insiders.
EchoStar Corporation (SATS) traded down 0.59% during trading on Thursday, reaching $55.65. 32,834 shares of the company’s stock were exchanged. EchoStar Corporation has a 52 week low of $44.01 and a 52 week high of $62.50. The stock has a 50-day moving average of $57.49 and a 200-day moving average of $58.57. The stock has a market capitalization of $5.32 billion, a PE ratio of 44.20 and a beta of 0.69.
EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). EchoStar Corporation had a net margin of 5.03% and a return on equity of 2.87%. The firm had revenue of $465.08 million during the quarter, compared to analysts’ expectations of $455.25 million. During the same quarter in the prior year, the firm posted $0.47 EPS. EchoStar Corporation’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that EchoStar Corporation will post $0.83 EPS for the current year.
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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.
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