Orvieto Partners L.P. Buys New Holdings in EchoStar Co. (NASDAQ:SATS)

Orvieto Partners L.P. purchased a new position in EchoStar Co. (NASDAQ:SATS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,000 shares of the communications equipment provider's stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of EchoStar by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 105,800 shares of the communications equipment provider's stock worth $2,423,000 after buying an additional 7,030 shares during the period. Pennant Investors LP grew its holdings in EchoStar by 4.2% in the 4th quarter. Pennant Investors LP now owns 2,417,837 shares of the communications equipment provider's stock worth $55,368,000 after acquiring an additional 97,000 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of EchoStar by 97.8% in the fourth quarter. Hsbc Holdings PLC now owns 30,350 shares of the communications equipment provider's stock valued at $697,000 after acquiring an additional 15,004 shares during the period. MetLife Investment Management LLC raised its stake in shares of EchoStar by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 73,973 shares of the communications equipment provider's stock valued at $1,694,000 after acquiring an additional 4,041 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of EchoStar during the fourth quarter worth about $2,073,000. Institutional investors own 33.62% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group boosted their price target on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.75.

EchoStar Stock Up 3.1 %

Shares of NASDAQ SATS opened at $21.97 on Thursday. The firm has a fifty day simple moving average of $25.83 and a two-hundred day simple moving average of $25.27. EchoStar Co. has a 12 month low of $14.40 and a 12 month high of $32.48. 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 firm has a market capitalization of $6.29 billion, a PE ratio of -2.40 and a beta of 0.72.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $1.87. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. Equities analysts expect that EchoStar Co. will post -1.99 earnings per share for the current year.

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.

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