Raymond James & Associates Sells 18,538 Shares of EchoStar Co. (NASDAQ:SATS)

Raymond James & Associates reduced its stake in shares of EchoStar Co. (NASDAQ:SATSGet Rating) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,117 shares of the communications equipment provider’s stock after selling 18,538 shares during the quarter. Raymond James & Associates’ holdings in EchoStar were worth $3,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in EchoStar by 9.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 333,279 shares of the communications equipment provider’s stock valued at $5,489,000 after buying an additional 27,787 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in EchoStar by 4.9% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 307,275 shares of the communications equipment provider’s stock worth $5,061,000 after purchasing an additional 14,295 shares during the period. Carolina Wealth Advisors LLC raised its holdings in EchoStar by 11.1% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 18,076 shares of the communications equipment provider’s stock worth $298,000 after purchasing an additional 1,808 shares during the last quarter. Mackenzie Financial Corp lifted its position in EchoStar by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 87,525 shares of the communications equipment provider’s stock valued at $1,442,000 after purchasing an additional 2,230 shares during the period. Finally, ExodusPoint Capital Management LP boosted its stake in shares of EchoStar by 196.3% in the 2nd quarter. ExodusPoint Capital Management LP now owns 155,658 shares of the communications equipment provider’s stock valued at $3,004,000 after purchasing an additional 103,121 shares during the last quarter. Institutional investors and hedge funds own 39.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SATS shares. StockNews.com raised shares of EchoStar from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Raymond James cut shares of EchoStar from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $57.00 to $27.00 in a research report on Friday, November 4th.

EchoStar Stock Performance

Shares of SATS stock opened at $17.58 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of 28.82 and a beta of 0.74. The stock has a 50-day moving average of $16.92 and a 200-day moving average of $17.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 5.02. EchoStar Co. has a one year low of $15.26 and a one year high of $26.80.

EchoStar (NASDAQ:SATSGet Rating) last posted its earnings results on Wednesday, November 2nd. The communications equipment provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08). EchoStar had a return on equity of 2.78% and a net margin of 2.57%. The firm had revenue of $497.39 million during the quarter, compared to analyst estimates of $497.10 million. As a group, sell-side analysts expect that EchoStar Co. will post 1.36 earnings per share for the current year.

EchoStar Profile

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EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.

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Institutional Ownership by Quarter for EchoStar (NASDAQ:SATS)

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