EchoStar Co. (NASDAQ:SATS) Shares Acquired by Strs Ohio

Strs Ohio boosted its stake in EchoStar Co. (NASDAQ:SATS) by 29.7% in the 4th quarter, Holdings Channel reports. The firm owned 19,200 shares of the communications equipment provider’s stock after buying an additional 4,400 shares during the quarter. Strs Ohio’s holdings in EchoStar were worth $318,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 in the last quarter. Beryl Capital Management LLC acquired a new stake in EchoStar in the third quarter valued at approximately $36,090,000. Charles Schwab Investment Management Inc. raised its stake in shares of EchoStar by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 712,297 shares of the communications equipment provider’s stock valued at $11,931,000 after purchasing an additional 13,627 shares during the period. Gabelli Funds LLC lifted its position in shares of EchoStar by 25.0% during the third quarter. Gabelli Funds LLC now owns 699,621 shares of the communications equipment provider’s stock worth $11,719,000 after purchasing an additional 139,930 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of EchoStar in the third quarter valued at $10,155,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $16.00 on Tuesday. The company’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.50. 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 1-year low of $9.53 and a 1-year high of $24.80. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -2.30 and a beta of 0.69.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on SATS shares. 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. JPMorgan Chase & Co. initiated coverage on EchoStar in a research note on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 price target on the stock. StockNews.com began coverage on shares of EchoStar in a research report on Saturday, April 13th. They set a “sell” rating for the company. 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 report on Tuesday, March 5th. Finally, TD Cowen dropped their target price 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. 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 company’s stock. Based on data from MarketBeat.com, EchoStar has an average rating of “Hold” and a consensus target price of $23.00.

Insider Buying and Selling

In other news, Director James Defranco bought 110,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was purchased 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 this link. Corporate insiders own 55.90% of the company’s stock.

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.