Charles Schwab Investment Management Inc. lessened its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,433,350 shares of the communications equipment provider's stock after selling 608,185 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of EchoStar worth $55,724,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after purchasing an additional 1,151 shares during the last quarter. KBC Group NV boosted its stake in EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after buying an additional 2,635 shares during the period. Neo Ivy Capital Management bought a new position in EchoStar during the third quarter valued at $272,000. GSA Capital Partners LLP bought a new stake in shares of EchoStar in the 3rd quarter worth about $285,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of EchoStar during the 4th quarter worth about $328,000. Hedge funds and other institutional investors own 33.62% of the company's stock.
EchoStar Trading Up 0.6 %
Shares of NASDAQ:SATS traded up $0.16 during trading on Monday, reaching $26.30. 2,473,627 shares of the company were exchanged, compared to its average volume of 1,543,896. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The firm has a market capitalization of $7.53 billion, a PE ratio of -2.87 and a beta of 0.65. The business's fifty day simple moving average is $27.55 and its 200-day simple moving average is $25.20. EchoStar Co. has a 12-month low of $12.36 and a 12-month high of $32.48.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. On average, research analysts anticipate that EchoStar Co. will post -1.99 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts have issued reports on SATS shares. UBS Group raised their price objective on shares of EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Morgan Stanley assumed coverage on EchoStar in a report on Monday, December 16th. They issued an "equal weight" rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.75.
Check Out Our Latest Stock Report on SATS
EchoStar Company Profile
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Free Report)
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.
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