Bank of New York Mellon Corp Buys 133,819 Shares of EchoStar Co. (NASDAQ:SATS)

Bank of New York Mellon Corp raised its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,019,809 shares of the communications equipment provider's stock after purchasing an additional 133,819 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of EchoStar worth $23,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SATS. Captrust Financial Advisors grew its position in EchoStar by 3.7% during the third quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider's stock valued at $536,000 after buying an additional 772 shares during the period. Inspire Investing LLC increased its stake in shares of EchoStar by 7.3% during the 4th quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider's stock worth $403,000 after purchasing an additional 1,198 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of EchoStar by 9.8% in the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider's stock worth $541,000 after purchasing an additional 1,942 shares during the period. KBC Group NV lifted its stake in EchoStar by 65.1% in the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock valued at $153,000 after purchasing an additional 2,635 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of EchoStar by 11.0% in the third quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider's stock valued at $1,161,000 after buying an additional 4,626 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

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EchoStar Price Performance

Shares of SATS stock traded up $1.48 during trading hours on Tuesday, reaching $26.66. The stock had a trading volume of 1,748,661 shares, compared to its average volume of 1,554,025. The stock's fifty day simple moving average is $27.28 and its 200 day simple moving average is $25.01. The firm has a market capitalization of $7.25 billion, a PE ratio of -2.91 and a beta of 0.65. EchoStar Co. has a 12 month low of $12.36 and a 12 month high of $32.48. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SATS. TD Cowen cut their price target on EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Morgan Stanley began coverage on shares of EchoStar in a research note on Monday, December 16th. They issued an "equal weight" rating and a $25.00 target price for the company. Finally, UBS Group boosted their price target on shares of EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.