Vanguard Group Inc. grew its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,737,733 shares of the communications equipment provider's stock after buying an additional 88,488 shares during the quarter. Vanguard Group Inc. owned 5.05% of EchoStar worth $314,594,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SATS. Smartleaf Asset Management LLC lifted its stake in EchoStar by 251.3% in 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 period. KBC Group NV raised its holdings in shares of EchoStar by 65.1% in the 4th 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 in the last quarter. Xponance Inc. lifted its position in shares of EchoStar by 8.7% in the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock worth $201,000 after purchasing an additional 701 shares during the period. LPL Financial LLC bought a new position in shares of EchoStar during the fourth quarter valued at approximately $204,000. Finally, Neo Ivy Capital Management purchased a new position in EchoStar during the third quarter valued at approximately $272,000. Institutional investors own 33.62% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on SATS. UBS Group increased their target price on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Morgan Stanley began coverage on EchoStar in a research note on Monday, December 16th. They set an "equal weight" rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.75.
View Our Latest Stock Report on EchoStar
EchoStar Price Performance
NASDAQ SATS opened at $23.33 on Friday. The firm's fifty day simple moving average is $27.81 and its two-hundred day simple moving average is $25.65. The firm has a market capitalization of $6.68 billion, a P/E ratio of -2.55 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. 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 announced its 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 the consensus estimate of $3.93 billion. Analysts forecast that EchoStar Co. will post -1.99 EPS for the current fiscal year.
EchoStar Profile
(
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.
Further Reading
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