Jane Street Group LLC Invests $336,000 in Echostar Co. (SATS)

Jane Street Group LLC acquired a new position in Echostar Co. (NASDAQ:SATS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,570 shares of the communications equipment provider’s stock, valued at approximately $336,000.

Several other large investors have also modified their holdings of SATS. Xact Kapitalforvaltning AB increased its holdings in Echostar by 19.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,116 shares of the communications equipment provider’s stock worth $323,000 after acquiring an additional 1,000 shares in the last quarter. United Services Automobile Association increased its holdings in Echostar by 13.3% in the 2nd quarter. United Services Automobile Association now owns 9,906 shares of the communications equipment provider’s stock worth $403,000 after acquiring an additional 1,163 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Echostar by 40.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,190 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 1,490 shares in the last quarter. NumerixS Investment Technologies Inc increased its holdings in Echostar by 138.5% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,100 shares of the communications equipment provider’s stock worth $139,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in Echostar by 13.8% in the 2nd quarter. Aperio Group LLC now owns 17,013 shares of the communications equipment provider’s stock worth $755,000 after acquiring an additional 2,069 shares in the last quarter. Hedge funds and other institutional investors own 47.62% of the company’s stock.

Shares of SATS opened at $44.82 on Thursday. The company has a quick ratio of 2.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.61. Echostar Co. has a 1 year low of $42.56 and a 1 year high of $62.29. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 53.13 and a beta of 0.82.

Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.48. Echostar had a net margin of 20.03% and a return on equity of 1.71%. The business had revenue of $525.96 million during the quarter, compared to analyst estimates of $511.50 million. Analysts forecast that Echostar Co. will post 0.52 earnings per share for the current fiscal year.

SATS has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Echostar from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub raised shares of Echostar from a “strong sell” rating to a “sell” rating in a report on Saturday, July 7th. Finally, ValuEngine raised shares of Echostar from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $65.67.

Echostar Company Profile

EchoStar Corporation provides satellite service operations and video delivery solutions 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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