Invesco Ltd. Acquires 474,313 Shares of EchoStar Co. (NASDAQ:SATS)

Invesco Ltd. increased its holdings in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,301,367 shares of the communications equipment provider's stock after purchasing an additional 474,313 shares during the quarter. Invesco Ltd. owned approximately 0.85% of EchoStar worth $52,701,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in shares of EchoStar by 136.0% in the 4th quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider's stock valued at $359,000 after acquiring an additional 9,042 shares in the last quarter. Inspire Investing LLC increased its position 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. KBC Group NV boosted its holdings in shares of 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 buying an additional 2,635 shares during the last quarter. Empowered Funds LLC raised its position in EchoStar by 6.1% during the fourth quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider's stock worth $7,882,000 after acquiring an additional 19,772 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of EchoStar by 309.6% during the 4th quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider's stock worth $3,048,000 after purchasing an additional 100,608 shares during the last quarter. Institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

Shares of EchoStar stock traded down $0.86 on Monday, reaching $20.89. 95,991 shares of the stock were exchanged, compared to its average volume of 1,730,575. EchoStar Co. has a one year low of $14.40 and a one year high of $32.48. The firm has a market cap of $5.98 billion, a PE ratio of -2.29 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 firm's 50 day moving average is $26.28 and its 200-day moving average is $25.33.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly 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. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. As a group, analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, UBS Group increased their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, EchoStar presently 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.