Thrivent Financial for Lutherans Lowers Holdings in EchoStar Co. (NASDAQ:SATS)

Thrivent Financial for Lutherans cut its holdings in EchoStar Co. (NASDAQ:SATS) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,163 shares of the communications equipment provider’s stock after selling 2,488 shares during the period. Thrivent Financial for Lutherans’ holdings in EchoStar were worth $1,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of EchoStar by 32.2% during the 2nd quarter. BlackRock Inc. now owns 3,242,002 shares of the communications equipment provider’s stock worth $78,745,000 after acquiring an additional 789,207 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EchoStar by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,987,702 shares of the communications equipment provider’s stock worth $48,282,000 after acquiring an additional 52,226 shares in the last quarter. Greenlight Capital Inc. raised its holdings in shares of EchoStar by 25.8% during the 2nd quarter. Greenlight Capital Inc. now owns 1,282,346 shares of the communications equipment provider’s stock worth $31,148,000 after acquiring an additional 262,900 shares in the last quarter. Invesco Ltd. raised its holdings in shares of EchoStar by 20.9% during the 2nd quarter. Invesco Ltd. now owns 1,016,737 shares of the communications equipment provider’s stock worth $24,698,000 after acquiring an additional 175,817 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of EchoStar by 27.4% during the 2nd quarter. State Street Corp now owns 990,078 shares of the communications equipment provider’s stock worth $24,049,000 after acquiring an additional 212,866 shares in the last quarter.

Several analysts have recently issued reports on the company. Raymond James upped their price objective on EchoStar from $63.00 to $64.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 10th. Zacks Investment Research upgraded EchoStar from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday.

NASDAQ:SATS opened at $30.25 on Thursday. The firm’s fifty day moving average is $26.47. EchoStar Co. has a fifty-two week low of $19.75 and a fifty-two week high of $30.90. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 18.45 and a beta of 0.74. The company has a quick ratio of 3.54, a current ratio of 4.01 and a debt-to-equity ratio of 0.42.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Monday, November 8th. The communications equipment provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. EchoStar had a return on equity of 1.39% and a net margin of 7.56%. During the same quarter last year, the firm posted $0.26 EPS. As a group, analysts anticipate that EchoStar Co. will post 1.12 earnings per share for the current fiscal year.

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

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