Mutual of America Capital Management LLC Trims Stock Position in EchoStar Co. (NASDAQ:SATS)

Mutual of America Capital Management LLC cut its stake in EchoStar Co. (NASDAQ:SATS) by 86.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 21,056 shares of the communications equipment provider’s stock after selling 133,741 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EchoStar were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new stake in shares of EchoStar in the third quarter valued at about $2,047,000. Versor Investments LP purchased a new stake in shares of EchoStar in the third quarter valued at about $1,849,000. American Century Companies Inc. raised its holdings in shares of EchoStar by 9.1% in the third quarter. American Century Companies Inc. now owns 474,254 shares of the communications equipment provider’s stock valued at $7,944,000 after buying an additional 39,575 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of EchoStar by 443.1% in the third quarter. New York Life Investment Management LLC now owns 122,387 shares of the communications equipment provider’s stock valued at $2,050,000 after buying an additional 99,854 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of EchoStar by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,465,583 shares of the communications equipment provider’s stock valued at $58,049,000 after buying an additional 33,451 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other EchoStar news, Director James Defranco purchased 70,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 176,951 shares of the company’s stock, valued at $2,325,136.14. The purchase was disclosed in a filing with the SEC, which is available at this link. 55.90% of the stock is currently owned by company insiders.

EchoStar Trading Up 1.6 %

Shares of SATS opened at $15.30 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average is $13.68 and its two-hundred day moving average is $13.45. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $24.80. The firm has a market capitalization of $4.15 billion, a P/E ratio of -2.20 and a beta of 0.69.

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

EchoStar 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.