Intech Investment Management LLC increased its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 196.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,704 shares of the communications equipment provider's stock after purchasing an additional 51,488 shares during the period. Intech Investment Management LLC's holdings in EchoStar were worth $1,779,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SATS. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 1,151 shares during the last quarter. KBC Group NV grew its stake in EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after buying an additional 2,635 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of EchoStar in the third quarter worth $272,000. Cibc World Markets Corp purchased a new position in shares of EchoStar in the 4th quarter valued at $261,000. Finally, GSA Capital Partners LLP acquired a new position in shares of EchoStar in the third quarter worth about $285,000. Hedge funds and other institutional investors own 33.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on SATS shares. UBS Group upped their target price on shares of EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Morgan Stanley began coverage on EchoStar in a research report on Monday, December 16th. They issued an "equal weight" rating and a $25.00 target price for the company. 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, the company has a consensus rating of "Hold" and an average target price of $23.75.
Get Our Latest Research Report on EchoStar
EchoStar Stock Performance
NASDAQ:SATS traded down $0.18 during midday trading on Tuesday, reaching $26.70. 1,258,505 shares of the company traded hands, compared to its average volume of 1,618,417. EchoStar Co. has a twelve month low of $12.66 and a twelve month high of $32.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The company has a fifty day moving average price of $27.93 and a 200 day moving average price of $25.51. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -2.91 and a beta of 0.65.
EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. On average, analysts expect that EchoStar Co. will post -1.99 EPS for the current fiscal year.
EchoStar Company Profile
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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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