New Age Alpha Advisors LLC acquired a new position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,831 shares of the communications equipment provider's stock, valued at approximately $408,000.
A number of other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of EchoStar by 32.7% during the 3rd quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider's stock worth $4,084,000 after buying an additional 40,533 shares during the last quarter. Quantbot Technologies LP purchased a new position in EchoStar in the third quarter worth approximately $383,000. Captrust Financial Advisors increased its stake in EchoStar by 3.7% during the third quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider's stock worth $536,000 after acquiring an additional 772 shares during the last quarter. Verition Fund Management LLC increased its stake in EchoStar by 69.5% during the third quarter. Verition Fund Management LLC now owns 28,254 shares of the communications equipment provider's stock worth $701,000 after acquiring an additional 11,586 shares during the last quarter. Finally, Stonehill Capital Management LLC purchased a new stake in EchoStar in the third quarter valued at $9,235,000. 33.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SATS has been the subject of a number of recent analyst reports. UBS Group raised their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Morgan Stanley began coverage on shares of EchoStar in a research report on Monday, December 16th. They set an "equal weight" rating and a $25.00 price target for the company. 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $23.75.
Check Out Our Latest Research Report on EchoStar
EchoStar Trading Down 7.7 %
EchoStar stock traded down $1.80 during midday trading on Friday, reaching $21.53. 3,886,294 shares of the stock traded hands, compared to its average volume of 1,689,381. The firm has a market cap of $6.17 billion, a PE ratio of -2.35 and a beta of 0.65. 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 50-day simple moving average of $27.81 and a two-hundred day simple moving average of $25.65. EchoStar Co. has a 12-month low of $13.00 and a 12-month high of $32.48.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.87. The business had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. Research analysts expect that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.
About EchoStar
(
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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