Dimensional Fund Advisors LP boosted its holdings in Echostar Co. (NASDAQ:SATS) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,447,636 shares of the communications equipment provider’s stock after purchasing an additional 137,693 shares during the period. Dimensional Fund Advisors LP owned approximately 1.50% of Echostar worth $53,157,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Commonwealth Bank of Australia lifted its stake in shares of Echostar by 16.7% in the fourth quarter. Commonwealth Bank of Australia now owns 25,200 shares of the communications equipment provider’s stock worth $923,000 after buying an additional 3,600 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Echostar by 27.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,333 shares of the communications equipment provider’s stock valued at $224,000 after purchasing an additional 1,353 shares during the period. Channing Capital Management LLC bought a new position in Echostar during the fourth quarter valued at approximately $2,108,000. Raymond James Financial Services Advisors Inc. bought a new position in Echostar during the fourth quarter valued at approximately $329,000. Finally, Raymond James & Associates lifted its position in Echostar by 475.2% during the fourth quarter. Raymond James & Associates now owns 45,857 shares of the communications equipment provider’s stock valued at $1,684,000 after purchasing an additional 37,884 shares during the period. 47.30% of the stock is owned by institutional investors and hedge funds.
Echostar stock traded down $0.42 during midday trading on Friday, reaching $39.88. 495,570 shares of the company traded hands, compared to its average volume of 312,083. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 104.95 and a beta of 0.93. Echostar Co. has a 12 month low of $33.58 and a 12 month high of $55.84. The company has a quick ratio of 2.61, a current ratio of 2.66 and a debt-to-equity ratio of 0.62.
In other Echostar news, CEO Michael T. Dugan sold 50,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $37.23, for a total value of $1,861,500.00. Following the transaction, the chief executive officer now directly owns 75,146 shares in the company, valued at $2,797,685.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael T. Dugan sold 100,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $37.24, for a total transaction of $3,724,000.00. Following the completion of the transaction, the chief executive officer now owns 75,146 shares in the company, valued at $2,798,437.04. The disclosure for this sale can be found here. 51.60% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on SATS. Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Saturday, January 26th. BidaskClub upgraded shares of Echostar from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Citigroup lowered their price objective on shares of Echostar from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, February 27th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $52.50.
Echostar Company Profile
EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services 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.
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