EchoStar Co. (NASDAQ:SATS) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its position in shares of EchoStar Co. (NASDAQ:SATS) by 24.1% in the 4th quarter, HoldingsChannel reports. The fund owned 99,367 shares of the communications equipment provider’s stock after selling 31,566 shares during the period. Raymond James & Associates’ holdings in EchoStar were worth $1,647,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its position in shares of EchoStar by 126.6% during the 2nd quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 809 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of EchoStar during the 1st quarter worth approximately $34,000. Federated Hermes Inc. lifted its position in shares of EchoStar by 95.0% during the 3rd quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 1,377 shares during the last quarter. Royal Bank of Canada lifted its position in shares of EchoStar by 159.9% during the 3rd quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 1,777 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of EchoStar by 139.4% during the 4th quarter. UBS Group AG now owns 5,053 shares of the communications equipment provider’s stock worth $84,000 after buying an additional 2,942 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Up 3.9 %

Shares of EchoStar stock opened at $14.56 on Friday. The company has a market cap of $3.95 billion, a P/E ratio of -2.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.61. EchoStar Co. has a one year low of $9.53 and a one year high of $24.80. The firm has a fifty day moving average of $13.62 and a two-hundred day moving average of $13.48.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $1.19. The company had revenue of $4.16 billion during the quarter. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The firm’s quarterly revenue was up 732.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, analysts forecast that EchoStar Co. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James Defranco acquired 110,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $13.48 per share, for a total transaction of $1,482,800.00. Following the transaction, the director now owns 306,951 shares in the company, valued at $4,137,699.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 55.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SATS. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price objective for the company. StockNews.com started coverage on shares of EchoStar in a research report on Saturday, April 13th. They issued a “sell” rating for the company. TD Cowen reduced their price target on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Morgan Stanley reduced their price target on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group upped their price target on shares of EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has a consensus rating of “Hold” and a consensus price target of $23.00.

EchoStar Company Profile

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.