Cibc World Markets Corp acquired a new stake in EchoStar Co. (NASDAQ:SATS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,392 shares of the communications equipment provider's stock, valued at approximately $261,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings in shares of EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after acquiring an additional 1,151 shares during the last quarter. KBC Group NV lifted its stake in EchoStar by 65.1% in the 4th 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. Neo Ivy Capital Management acquired a new stake in EchoStar in the third quarter valued at approximately $272,000. Proficio Capital Partners LLC bought a new stake in shares of EchoStar during the fourth quarter worth $328,000. Finally, SG Americas Securities LLC increased its holdings in shares of EchoStar by 136.0% during the fourth quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider's stock worth $359,000 after buying an additional 9,042 shares in the last quarter. Institutional investors own 33.62% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Morgan Stanley started coverage on EchoStar in a report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price objective on the stock. UBS Group lifted their price target on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Two equities 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.com, the stock has an average rating of "Hold" and a consensus target price of $23.75.
Read Our Latest Stock Report on SATS
EchoStar Trading Down 4.5 %
Shares of EchoStar stock traded down $1.17 during trading on Friday, hitting $24.99. The company's stock had a trading volume of 1,645,045 shares, compared to its average volume of 1,669,683. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -2.73 and a beta of 0.65. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 52 week low of $12.66 and a 52 week high of $32.48. The stock has a 50-day moving average price of $28.01 and a two-hundred day moving average price of $25.60.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.63) by $1.87. The company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. Equities research analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal year.
EchoStar Company Profile
(
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.
Further Reading
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