EchoStar Corporation (NASDAQ:SATS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of EchoStar Corporation (NASDAQ:SATS) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,701,717 shares of the communications equipment provider’s stock after selling 46,577 shares during the period. Vanguard Group Inc. owned 2.86% of EchoStar Corporation worth $153,863,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. US Bancorp DE increased its position in shares of EchoStar Corporation by 4.6% in the first quarter. US Bancorp DE now owns 12,313 shares of the communications equipment provider’s stock valued at $701,000 after buying an additional 546 shares during the last quarter. Swiss National Bank increased its position in shares of EchoStar Corporation by 1.1% in the first quarter. Swiss National Bank now owns 76,700 shares of the communications equipment provider’s stock valued at $4,368,000 after buying an additional 800 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of EchoStar Corporation by 22.1% in the first quarter. Pacer Advisors Inc. now owns 6,292 shares of the communications equipment provider’s stock valued at $358,000 after buying an additional 1,140 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of EchoStar Corporation by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 33,262 shares of the communications equipment provider’s stock valued at $1,894,000 after buying an additional 1,165 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in shares of EchoStar Corporation by 8.4% in the first quarter. Bbva Compass Bancshares Inc. now owns 16,651 shares of the communications equipment provider’s stock valued at $948,000 after buying an additional 1,285 shares during the last quarter. 44.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EchoStar Corporation (NASDAQ SATS) opened at 60.06 on Wednesday. The firm has a market cap of $5.74 billion, a PE ratio of 33.57 and a beta of 0.70. EchoStar Corporation has a 52 week low of $36.59 and a 52 week high of $62.50. The company has a 50 day moving average of $60.69 and a 200 day moving average of $57.37.

EchoStar Corporation (NASDAQ:SATS) last posted its quarterly earnings data on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.17. The business had revenue of $443.20 million during the quarter, compared to the consensus estimate of $447.17 million. EchoStar Corporation had a net margin of 6.30% and a return on equity of 4.11%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. On average, equities research analysts anticipate that EchoStar Corporation will post $0.91 EPS for the current fiscal year.

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Several research firms have recently commented on SATS. Zacks Investment Research upgraded shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. EchoStar Corporation presently has a consensus rating of “Buy” and an average price target of $62.33.

In related news, insider Pradman P. Kaul sold 14,999 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $58.25, for a total value of $873,691.75. Following the completion of the sale, the insider now owns 4,999 shares of the company’s stock, valued at $291,191.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael T. Dugan sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $60.58, for a total transaction of $605,800.00. Following the completion of the sale, the chief executive officer now directly owns 52,092 shares of the company’s stock, valued at approximately $3,155,733.36. The disclosure for this sale can be found here. Insiders sold 59,862 shares of company stock valued at $3,598,258 in the last ninety days. Corporate insiders own 73.54% of the company’s stock.

About EchoStar Corporation

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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