Todays Report: The New Jersey Better Educational Savings Trust Invests $437,000 in EchoStar Corp. (SATS)

The New Jersey Better Educational Savings Trust Invests $437,000 in EchoStar Corp. (SATS)

New Jersey Better Educational Savings Trust acquired a new stake in EchoStar Corp. (NASDAQ:SATS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SATS. State of New Jersey Common Pension Fund D raised its position in EchoStar Corp. by 12.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 715,000 shares of the company’s stock valued at $28,386,000 after buying an additional 80,000 shares during the last quarter. Quantbot Technologies LP raised its position in EchoStar Corp. by 50.7% in the second quarter. Quantbot Technologies LP now owns 2,534 shares of the company’s stock valued at $100,000 after buying an additional 852 shares during the last quarter. California State Teachers Retirement System raised its position in EchoStar Corp. by 2.6% in the second quarter. California State Teachers Retirement System now owns 98,744 shares of the company’s stock valued at $3,920,000 after buying an additional 2,463 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in EchoStar Corp. by 12.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,940 shares of the company’s stock valued at $1,268,000 after buying an additional 3,632 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in EchoStar Corp. by 336.9% in the second quarter. Nordea Investment Management AB now owns 16,170 shares of the company’s stock valued at $642,000 after buying an additional 12,469 shares during the last quarter. 44.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of EchoStar Corp. (NASDAQ:SATS) traded up 0.11% during mid-day trading on Friday, reaching $46.43. 113,361 shares of the company’s stock traded hands. EchoStar Corp. has a 12 month low of $30.86 and a 12 month high of $47.54. The company has a 50 day moving average of $43.50 and a 200 day moving average of $40.51. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 21.40 and a beta of 0.99.

EchoStar Corp. (NASDAQ:SATS) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.17. EchoStar Corp. had a return on equity of 5.17% and a net margin of 6.31%. The company earned $757.60 million during the quarter, compared to the consensus estimate of $766.99 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. Analysts expect that EchoStar Corp. will post $1.78 earnings per share for the current fiscal year.

Several research firms recently weighed in on SATS. TheStreet raised shares of EchoStar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Zacks Investment Research lowered shares of EchoStar Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Citigroup Inc. lifted their price objective on shares of EchoStar Corp. from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Finally, Macquarie reissued an “outperform” rating and set a $55.00 price objective on shares of EchoStar Corp. in a research note on Friday, July 8th.

EchoStar Corp. Company Profile

EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.

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