CANADA LIFE ASSURANCE Co cut its stake in EchoStar Co. (NASDAQ:SATS - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,807 shares of the communications equipment provider's stock after selling 29,054 shares during the period. CANADA LIFE ASSURANCE Co's holdings in EchoStar were worth $2,697,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of SATS. SG Americas Securities LLC grew its holdings in EchoStar by 136.0% in the fourth quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider's stock valued at $359,000 after purchasing an additional 9,042 shares during the last quarter. Inspire Investing LLC boosted its position in shares of EchoStar by 7.3% in the 4th quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider's stock worth $403,000 after buying an additional 1,198 shares in the last quarter. KBC Group NV grew 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 acquiring an additional 2,635 shares during the last quarter. Empowered Funds LLC increased its holdings in EchoStar by 6.1% during the 4th quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider's stock valued at $7,882,000 after acquiring an additional 19,772 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in EchoStar by 309.6% during the fourth quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider's stock worth $3,048,000 after acquiring an additional 100,608 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.
EchoStar Trading Up 0.2 %
Shares of SATS opened at $22.56 on Friday. 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 $14.40 and a 12 month high of $32.48. The stock has a market cap of $6.46 billion, a PE ratio of -2.46 and a beta of 0.72. The stock's 50-day moving average is $25.54 and its two-hundred day moving average is $25.23.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. Equities analysts forecast that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, UBS Group increased their price objective on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $23.75.
Get Our Latest Research Report on SATS
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.
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