XTX Topco Ltd Makes New Investment in EchoStar Co. (NASDAQ:SATS)

XTX Topco Ltd acquired a new stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,280 shares of the communications equipment provider's stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd grew its stake in EchoStar by 189.1% in the 4th quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock worth $110,000 after buying an additional 3,137 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EchoStar during the 4th quarter worth $3,033,000. Renaissance Technologies LLC purchased a new position in EchoStar in the fourth quarter worth $5,351,000. FIL Ltd increased its stake in 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 acquiring an additional 350,650 shares during the last quarter. Finally, Legal & General Group Plc raised its position in EchoStar by 2.6% during the fourth quarter. Legal & General Group Plc now owns 325,573 shares of the communications equipment provider's stock valued at $7,456,000 after purchasing an additional 8,340 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

EchoStar Trading Up 0.2 %

EchoStar stock traded up $0.05 during mid-day trading on Friday, hitting $22.56. The company's stock had a trading volume of 984,349 shares, compared to its average volume of 1,737,429. The business has a 50 day moving average price of $25.69 and a 200-day moving average price of $25.26. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 12 month low of $14.40 and a 12 month high of $32.48. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of -2.46 and a beta of 0.72.

EchoStar (NASDAQ:SATS - Get Free Report) last released its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, beating 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 company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. As a group, analysts forecast that EchoStar Co. will post -1.99 EPS 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.