7,579 Shares in EchoStar Co. (NASDAQ:SATS) Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System purchased a new position in EchoStar Co. (NASDAQ:SATS) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,579 shares of the communications equipment provider’s stock, valued at approximately $126,000.

Several other hedge funds have also made changes to their positions in the stock. Oak Thistle LLC bought a new stake in shares of EchoStar in the 4th quarter worth approximately $1,483,000. Denali Advisors LLC lifted its holdings in shares of EchoStar by 175.7% in the 4th quarter. Denali Advisors LLC now owns 86,015 shares of the communications equipment provider’s stock worth $1,425,000 after purchasing an additional 54,815 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of EchoStar in the 4th quarter worth approximately $350,000. SG Americas Securities LLC bought a new stake in shares of EchoStar in the 4th quarter worth approximately $859,000. Finally, Exchange Traded Concepts LLC bought a new stake in EchoStar during the 4th quarter valued at $488,000. Institutional investors own 33.62% of the company’s stock.

EchoStar Stock Down 0.1 %

Shares of SATS stock opened at $14.55 on Friday. EchoStar Co. has a 1 year low of $9.53 and a 1 year high of $24.80. The stock has a market cap of $3.95 billion, a PE ratio of -2.09 and a beta of 0.69. The business’s fifty day moving average is $13.64 and its 200-day moving average is $13.47. 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 (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $1.19. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. The company had revenue of $4.16 billion for the quarter. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 732.2% compared to the same quarter last year. Equities analysts expect that EchoStar Co. will post -1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director James Defranco bought 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $13.14 per share, for a total transaction of $919,800.00. Following the acquisition, the director now directly owns 176,951 shares of the company’s stock, valued at approximately $2,325,136.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 55.90% of the stock is owned by insiders.

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.