Illinois Municipal Retirement Fund raised its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,076 shares of the communications equipment provider's stock after buying an additional 16,253 shares during the quarter. Illinois Municipal Retirement Fund's holdings in EchoStar were worth $1,582,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of EchoStar by 15.1% in 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 buying an additional 133,819 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of EchoStar during the fourth quarter valued at approximately $2,404,000. Principal Financial Group Inc. boosted its position 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 valued at $13,419,000 after purchasing an additional 16,999 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of EchoStar by 309.6% during the fourth quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider's stock valued at $3,048,000 after purchasing an additional 100,608 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of EchoStar by 6.1% during the fourth quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider's stock valued at $7,882,000 after purchasing an additional 19,772 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on SATS. StockNews.com upgraded EchoStar to a "sell" rating in a research report on Saturday, November 9th. Morgan Stanley began coverage on EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price target on the stock. TD Cowen dropped their price target on EchoStar from $37.00 to $30.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Finally, UBS Group boosted their target price on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, EchoStar has an average rating of "Hold" and a consensus price target of $23.75.
Read Our Latest Stock Analysis on EchoStar
EchoStar Stock Performance
EchoStar stock traded down $0.25 during mid-day trading on Wednesday, reaching $30.79. 2,598,508 shares of the stock traded hands, compared to its average volume of 1,537,088. The stock has a market capitalization of $8.37 billion, a PE ratio of -3.36 and a beta of 0.72. 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 12-month low of $12.36 and a 12-month high of $32.48. The business's 50-day moving average is $26.86 and its 200-day moving average is $24.73.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.93 billion. As a group, sell-side analysts predict that EchoStar Co. will post -1.99 EPS for the current fiscal year.
About EchoStar
(
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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