Gamco Investors INC. ET AL Decreases Holdings in Echostar Co. (SATS)

Gamco Investors INC. ET AL lessened its stake in shares of Echostar Co. (NASDAQ:SATS) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 523,815 shares of the communications equipment provider’s stock after selling 14,463 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Echostar were worth $19,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SATS. Park West Asset Management LLC bought a new stake in shares of Echostar during the fourth quarter worth $38,556,000. Vanguard Group Inc. lifted its holdings in shares of Echostar by 24.1% during the third quarter. Vanguard Group Inc. now owns 4,213,613 shares of the communications equipment provider’s stock worth $195,386,000 after purchasing an additional 817,044 shares during the period. Norges Bank acquired a new position in shares of Echostar during the fourth quarter worth $20,726,000. Ancora Advisors LLC acquired a new position in shares of Echostar during the fourth quarter worth $9,196,000. Finally, Barclays PLC lifted its holdings in shares of Echostar by 1,169.6% during the fourth quarter. Barclays PLC now owns 199,940 shares of the communications equipment provider’s stock worth $7,342,000 after purchasing an additional 184,192 shares during the period. 47.32% of the stock is currently owned by hedge funds and other institutional investors.

SATS has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Saturday, January 19th. Citigroup cut their price target on shares of Echostar from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, February 27th. Finally, BidaskClub lowered shares of Echostar from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $52.50.

Shares of NASDAQ:SATS opened at $40.11 on Friday. The firm has a market cap of $3.82 billion, a PE ratio of 105.55 and a beta of 0.96. The company has a current ratio of 2.73, a quick ratio of 2.61 and a debt-to-equity ratio of 0.64. Echostar Co. has a 52 week low of $33.58 and a 52 week high of $54.23.

Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $531.08 million for the quarter, compared to analyst estimates of $529.55 million. Echostar had a negative net margin of 0.20% and a positive return on equity of 0.87%. Echostar’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) earnings per share.

In related news, CEO Michael T. Dugan sold 50,000 shares of the business’s stock in a transaction 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 owns 75,146 shares in the company, valued at $2,797,685.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael T. Dugan sold 100,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were 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 approximately $2,798,437.04. The disclosure for this sale can be found here. 51.60% of the stock is currently owned by insiders.

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Echostar 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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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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