Empowered Funds LLC Buys 19,772 Shares of EchoStar Co. (NASDAQ:SATS)

Empowered Funds LLC grew its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 344,188 shares of the communications equipment provider's stock after buying an additional 19,772 shares during the quarter. Empowered Funds LLC owned approximately 0.13% of EchoStar worth $7,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SATS. GAMMA Investing LLC lifted its stake in shares of EchoStar by 54.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider's stock valued at $55,000 after purchasing an additional 789 shares during the period. SG Americas Securities LLC purchased a new position in EchoStar during the third quarter valued at $165,000. KBC Group NV increased 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 worth $153,000 after purchasing an additional 2,635 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of EchoStar in the 3rd quarter worth $272,000. Finally, GSA Capital Partners LLP bought a new stake in shares of EchoStar in the 3rd quarter worth $285,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

Shares of NASDAQ:SATS traded up $0.30 during mid-day trading on Friday, reaching $29.26. The stock had a trading volume of 957,559 shares, compared to its average volume of 1,651,492. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The company has a market cap of $7.95 billion, a P/E ratio of -3.19 and a beta of 0.72. EchoStar Co. has a 1 year low of $11.83 and a 1 year high of $30.08. The business's 50 day moving average price is $25.22 and its 200 day moving average price is $23.69.

Analyst Ratings Changes

SATS has been the subject of a number of research analyst reports. StockNews.com raised EchoStar to a "sell" rating in a report on Saturday, November 9th. Morgan Stanley assumed coverage on EchoStar in a report on Monday, December 16th. They issued an "equal weight" rating and a $25.00 price objective for the company. UBS Group lifted their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Finally, TD Cowen cut their price target on EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, November 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 company's stock. According to data from MarketBeat, EchoStar has an average rating of "Hold" and an average target price of $23.75.

About EchoStar

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.