Trexquant Investment LP purchased a new position in EchoStar Co. (NASDAQ:SATS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 10,398 shares of the communications equipment provider’s stock, valued at approximately $253,000.
A number of other large investors have also modified their holdings of SATS. Ameritas Investment Partners Inc. acquired a new stake in EchoStar in the 2nd quarter worth about $79,000. Carolina Wealth Advisors LLC boosted its stake in EchoStar by 28.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 5,071 shares of the communications equipment provider’s stock worth $123,000 after buying an additional 1,124 shares during the last quarter. Van ECK Associates Corp boosted its stake in EchoStar by 8.7% in the 1st quarter. Van ECK Associates Corp now owns 5,309 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 427 shares during the last quarter. Pinz Capital Management LP acquired a new stake in EchoStar in the 1st quarter worth about $142,000. Finally, Ergoteles LLC acquired a new stake in EchoStar in the 1st quarter worth about $263,000. 44.19% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered EchoStar from a “buy” rating to a “hold” rating in a research note on Thursday, October 7th.
EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Monday, August 2nd. The communications equipment provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.34. The business had revenue of $499.83 million for the quarter, compared to analyst estimates of $479.20 million. EchoStar had a return on equity of 1.16% and a net margin of 7.27%. On average, equities research analysts expect that EchoStar Co. will post 1.09 EPS for the current fiscal year.
EchoStar Company Profile
EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services (ESS). The Hughes segment provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers.
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