Proficio Capital Partners LLC acquired a new stake in EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,313 shares of the communications equipment provider's stock, valued at approximately $328,000.
Several other large investors have also modified their holdings of SATS. KBC Group NV grew its holdings in EchoStar by 65.1% in the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock valued at $153,000 after purchasing an additional 2,635 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in EchoStar during the third quarter valued at about $272,000. GSA Capital Partners LLP purchased a new stake in EchoStar during the third quarter worth approximately $285,000. SG Americas Securities LLC boosted its position in shares of EchoStar by 136.0% in the fourth quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider's stock worth $359,000 after buying an additional 9,042 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of EchoStar in the third quarter valued at $383,000. 33.62% of the stock is owned by institutional investors and hedge funds.
EchoStar Stock Performance
Shares of NASDAQ SATS opened at $26.50 on Wednesday. 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 market capitalization of $7.59 billion, a P/E ratio of -2.89 and a beta of 0.65. The business's 50-day moving average price is $27.28 and its two-hundred day moving average price is $25.01. EchoStar Co. has a one year low of $12.36 and a one year high of $32.48.
EchoStar (NASDAQ:SATS - Get Free Report) last announced its 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. 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 during the quarter, compared to analysts' expectations of $3.93 billion. Analysts anticipate that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have weighed in on SATS shares. 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 report on Wednesday, November 13th. Morgan Stanley started coverage on shares of EchoStar in a research note on Monday, December 16th. They set an "equal weight" rating and a $25.00 target price on the stock. Finally, UBS Group increased 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. Two research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $23.75.
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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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