Gabelli Funds LLC Has $4.79 Million Holdings in EchoStar Co. (NASDAQ:SATS)

Gabelli Funds LLC decreased its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 209,105 shares of the communications equipment provider's stock after selling 12,700 shares during the period. Gabelli Funds LLC owned about 0.08% of EchoStar worth $4,789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SATS. Smartleaf Asset Management LLC boosted its holdings in shares of EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after purchasing an additional 1,151 shares during the period. Covestor Ltd increased its stake in shares of EchoStar by 189.1% in the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock worth $110,000 after acquiring an additional 3,137 shares during the last quarter. KBC Group NV boosted its position in EchoStar by 65.1% during the fourth 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. Xponance Inc. increased its position in EchoStar by 8.7% in the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock worth $201,000 after purchasing an additional 701 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of EchoStar during the 4th quarter valued at about $204,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group boosted their target price on shares of 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 assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, EchoStar has an average rating of "Hold" and an average price target of $23.75.

EchoStar Stock Down 1.6 %

Shares of SATS stock opened at $21.75 on Friday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -2.37 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 stock's 50 day simple moving average is $26.42 and its 200 day simple moving average is $25.33. EchoStar Co. has a twelve month low of $13.52 and a twelve month high of $32.48.

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, topping analysts' consensus estimates of ($0.63) by $1.87. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The business had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.93 billion. As a group, research analysts predict that EchoStar Co. will post -1.99 EPS for the current year.

EchoStar Company 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.

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