Truist Financial Corp Invests $401,000 in EchoStar Co. (NASDAQ:SATS)

Truist Financial Corp acquired a new position in shares of EchoStar Co. (NASDAQ:SATSGet Rating) in the 1st quarter, Holdings Channel reports. The fund acquired 16,490 shares of the communications equipment provider’s stock, valued at approximately $401,000.

Other institutional investors also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. grew its holdings in shares of EchoStar by 185.9% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,332,510 shares of the communications equipment provider’s stock worth $35,111,000 after buying an additional 866,461 shares during the last quarter. Millennium Management LLC grew its holdings in shares of EchoStar by 99.2% during the fourth quarter. Millennium Management LLC now owns 1,100,729 shares of the communications equipment provider’s stock worth $29,004,000 after buying an additional 548,227 shares during the last quarter. Invesco Ltd. lifted its stake in shares of EchoStar by 24.2% in the 4th quarter. Invesco Ltd. now owns 1,370,000 shares of the communications equipment provider’s stock worth $36,099,000 after acquiring an additional 266,636 shares during the period. Long Focus Capital Management LLC acquired a new stake in shares of EchoStar in the 4th quarter worth $6,785,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of EchoStar by 97.2% in the 4th quarter. BNP Paribas Arbitrage SA now owns 163,889 shares of the communications equipment provider’s stock worth $4,318,000 after acquiring an additional 80,790 shares during the period.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Raymond James reduced their target price on shares of EchoStar from $60.00 to $59.00 and set a “strong-buy” rating for the company in a research note on Thursday, March 31st. Citigroup reduced their target price on shares of EchoStar from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, May 23rd. Finally, StockNews.com upgraded EchoStar from a “hold” rating to a “buy” rating in a research report on Friday, May 6th.

EchoStar Trading Up 1.8 %

NASDAQ:SATS opened at $19.81 on Thursday. The stock has a fifty day moving average price of $20.65 and a two-hundred day moving average price of $22.97. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.42 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 4.56 and a current ratio of 4.56. EchoStar Co. has a 1 year low of $18.10 and a 1 year high of $30.90.

EchoStar (NASDAQ:SATSGet Rating) last released its quarterly earnings results on Thursday, May 5th. The communications equipment provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $501.53 million during the quarter, compared to analyst estimates of $477.30 million. EchoStar had a return on equity of 2.55% and a net margin of 4.28%. As a group, sell-side analysts anticipate that EchoStar Co. will post 1.89 earnings per share for the current fiscal year.

About EchoStar

(Get Rating)

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.

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Institutional Ownership by Quarter for EchoStar (NASDAQ:SATS)

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