Hussman Strategic Advisors Inc. Takes Position in EchoStar Co. (NASDAQ:SATS)

Hussman Strategic Advisors Inc. acquired a new stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 105,000 shares of the communications equipment provider's stock, valued at approximately $2,404,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Darsana Capital Partners LP raised its holdings in EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider's stock worth $74,460,000 after buying an additional 927,695 shares during the period. Stonehill Capital Management LLC bought a new stake in shares of EchoStar during the third quarter worth $9,235,000. Van ECK Associates Corp raised its holdings 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 worth $3,048,000 after acquiring an additional 100,608 shares during the period. State Street Corp boosted its position in EchoStar by 1.3% during the third quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider's stock valued at $118,546,000 after purchasing an additional 62,674 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in EchoStar during the third quarter valued at approximately $1,230,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. TD Cowen decreased their price objective on shares of EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Morgan Stanley assumed coverage on shares of EchoStar in a research note on Monday, December 16th. They set an "equal weight" rating and a $25.00 price objective on the stock. Finally, StockNews.com upgraded EchoStar to a "sell" rating in a report on Saturday, November 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.75.

EchoStar Stock Performance

Shares of NASDAQ:SATS traded down $0.60 on Friday, hitting $29.57. The company had a trading volume of 1,461,247 shares, compared to its average volume of 1,697,893. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of -3.23 and a beta of 0.72. The stock has a 50 day moving average price of $25.86 and a 200 day moving average price of $24.05. EchoStar Co. has a 1-year low of $11.83 and a 1-year high of $30.55. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

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.