Atika Capital Management LLC Buys Shares of 189,360 EchoStar Co. (NASDAQ:SATS)

Atika Capital Management LLC acquired a new stake in EchoStar Co. (NASDAQ:SATS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 189,360 shares of the communications equipment provider's stock, valued at approximately $4,336,000. Atika Capital Management LLC owned about 0.07% of EchoStar as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in EchoStar by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider's stock valued at $314,594,000 after acquiring an additional 88,488 shares during the period. State Street Corp increased its position in EchoStar by 1.3% during the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider's stock worth $118,546,000 after buying an additional 62,674 shares during the period. American Century Companies Inc. raised its stake in EchoStar by 1.0% in the 4th quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider's stock worth $68,518,000 after purchasing an additional 28,779 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of EchoStar by 15.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock worth $23,354,000 after purchasing an additional 133,819 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of EchoStar by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 585,990 shares of the communications equipment provider's stock worth $13,419,000 after purchasing an additional 16,999 shares during the period. 33.62% of the stock is owned by institutional investors.

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EchoStar Stock Performance

Shares of EchoStar stock traded up $0.07 during mid-day trading on Friday, hitting $22.17. 1,017,376 shares of the stock were exchanged, compared to its average volume of 2,372,682. The company has a market capitalization of $6.35 billion, a P/E ratio of -2.42 and a beta of 0.72. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The company has a 50-day simple moving average of $27.05 and a 200 day simple moving average of $25.45. EchoStar Co. has a 12 month low of $13.49 and a 12 month high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.87. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. Sell-side analysts anticipate that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SATS. Morgan Stanley assumed coverage on shares of EchoStar in a research report on Monday, December 16th. They issued an "equal weight" rating and a $25.00 target price for the company. UBS Group upped their price objective on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.75.

EchoStar Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.