EchoStar Co. (NASDAQ:SATS) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. lifted its holdings in shares of EchoStar Co. (NASDAQ:SATS – Get Rating) by 66.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,544 shares of the communications equipment provider’s stock after acquiring an additional 16,583 shares during the quarter. Macquarie Group Ltd.’s holdings in EchoStar were worth $691,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Heritage Wealth Management LLC bought a new stake in EchoStar in the second quarter valued at about $54,000. Royal Bank of Canada grew its holdings in shares of EchoStar by 159.9% during the third quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 1,777 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of EchoStar during the first quarter valued at approximately $129,000. Covestor Ltd grew its holdings in shares of EchoStar by 2,809.6% during the first quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock valued at $133,000 after purchasing an additional 5,282 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of EchoStar by 309.0% during the third quarter. Great West Life Assurance Co. Can now owns 6,479 shares of the communications equipment provider’s stock worth $107,000 after buying an additional 4,895 shares during the period. 39.06% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Down 3.1 %

NASDAQ SATS opened at $19.08 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a 50-day simple moving average of $18.30 and a 200 day simple moving average of $17.67. EchoStar Co. has a twelve month low of $15.26 and a twelve month high of $25.64. The stock has a market cap of $1.59 billion, a PE ratio of 9.17 and a beta of 0.75.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com upgraded EchoStar from a “hold” rating to a “buy” rating in a research report on Friday. Raymond James upped their price target on shares of EchoStar from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th.

About EchoStar

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EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services (ESS). The Hughes segment provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers.