Pennant Investors LP Acquires 97,000 Shares of EchoStar Co. (NASDAQ:SATS)

Pennant Investors LP boosted its holdings in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,417,837 shares of the communications equipment provider's stock after purchasing an additional 97,000 shares during the period. EchoStar comprises 15.8% of Pennant Investors LP's portfolio, making the stock its 2nd biggest holding. Pennant Investors LP owned about 0.89% of EchoStar worth $55,368,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FIL Ltd raised its holdings in shares of EchoStar by 139.9% in the fourth quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock valued at $13,769,000 after buying an additional 350,650 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in EchoStar by 30.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider's stock worth $1,582,000 after purchasing an additional 16,253 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of EchoStar during the fourth quarter valued at $3,033,000. Bank of New York Mellon Corp boosted its holdings in EchoStar by 15.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock valued at $23,354,000 after acquiring an additional 133,819 shares during the last quarter. Finally, Empowered Funds LLC increased its position in EchoStar by 6.1% in the fourth quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider's stock worth $7,882,000 after purchasing an additional 19,772 shares during the period. Institutional investors and hedge funds own 33.62% of the company's stock.

Wall Street Analyst Weigh In

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

EchoStar Stock Down 3.4 %

Shares of EchoStar stock opened at $21.00 on Tuesday. The firm has a market cap of $6.02 billion, a PE ratio of -2.29 and a beta of 0.72. EchoStar Co. has a 52-week low of $14.40 and a 52-week high of $32.48. The business's 50 day simple moving average is $26.13 and its 200 day simple moving average is $25.32. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

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