Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of EchoStar Corporation (NASDAQ:SATS – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 28,500 shares of the communications equipment provider’s stock, valued at approximately $3,098,000.
A number of other hedge funds have also made changes to their positions in SATS. CoreCap Advisors LLC acquired a new stake in shares of EchoStar during the fourth quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new stake in shares of EchoStar during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of EchoStar during the third quarter worth approximately $38,000. Tucker Asset Management LLC acquired a new stake in shares of EchoStar during the fourth quarter worth approximately $42,000. Finally, BOKF NA grew its position in shares of EchoStar by 300.0% during the fourth quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on SATS. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. TD Cowen raised their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. New Street Research initiated coverage on shares of EchoStar in a research report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target for the company. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group raised their price objective on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, EchoStar has a consensus rating of “Hold” and a consensus price target of $137.14.
EchoStar Stock Performance
Shares of SATS opened at $116.62 on Tuesday. The business’s fifty day moving average price is $125.82 and its 200 day moving average price is $113.43. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $147.25. The stock has a market capitalization of $33.80 billion, a PE ratio of -2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27.
EchoStar (NASDAQ:SATS – Get Free Report) last announced its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the business earned ($0.71) earnings per share. Equities research analysts forecast that EchoStar Corporation will post -3.79 EPS for the current year.
EchoStar Profile
EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.
In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.
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