Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys Shares of 21,300 Echostar Co. (SATS)

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Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Echostar Co. (NASDAQ:SATS) during the 1st quarter, HoldingsChannel reports. The firm bought 21,300 shares of the communications equipment provider’s stock, valued at approximately $1,124,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SATS. Renaissance Technologies LLC lifted its stake in shares of Echostar by 3.6% in 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 period. BlackRock Inc. lifted its stake in shares of Echostar by 6.0% in the 1st quarter. BlackRock Inc. now owns 2,219,211 shares of the communications equipment provider’s stock worth $117,108,000 after purchasing an additional 125,390 shares during the period. Glenhill Advisors LLC lifted its stake in shares of Echostar by 0.7% in 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 period. State of New Jersey Common Pension Fund D lifted its stake in shares of Echostar by 2.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 675,000 shares of the communications equipment provider’s stock worth $35,620,000 after purchasing an additional 15,000 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in shares of Echostar by 2.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 454,748 shares of the communications equipment provider’s stock worth $23,997,000 after purchasing an additional 11,564 shares during the period. Institutional investors and hedge funds own 43.77% of the company’s stock.

SATS has been the topic of several recent research reports. TheStreet upgraded shares of Echostar from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, February 27th. BidaskClub upgraded shares of Echostar from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Finally, ValuEngine cut shares of Echostar from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $71.00.

Echostar opened at $44.88 on Wednesday, Marketbeat Ratings reports. The company has a market capitalization of $4.34 billion, a P/E ratio of 53.43, a PEG ratio of 10.26 and a beta of 0.79. Echostar Co. has a 12-month low of $44.68 and a 12-month high of $62.29. The company has a quick ratio of 8.78, a current ratio of 8.99 and a debt-to-equity ratio of 0.85.

Echostar (NASDAQ:SATS) last released its earnings results on Thursday, May 10th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.11. The company had revenue of $501.79 million during the quarter, compared to analyst estimates of $492.55 million. Echostar had a net margin of 17.06% and a return on equity of 1.61%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. analysts forecast that Echostar Co. will post 0.88 EPS for the current year.

Echostar Profile

EchoStar Corporation provides satellite service operations and video delivery solutions 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.

Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Echostar Co. (NASDAQ:SATS).

Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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