Teacher Retirement System of Texas Buys Shares of 33,211 EchoStar Corporation (NASDAQ:SATS)

Teacher Retirement System of Texas bought a new position in EchoStar Corporation (NASDAQ:SATS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,211 shares of the communications equipment provider’s stock, valued at approximately $850,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in shares of EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 567 shares in the last quarter. Xponance Inc. boosted its position in shares of EchoStar by 8.7% during the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock valued at $201,000 after purchasing an additional 701 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of EchoStar by 2.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider’s stock valued at $1,090,000 after purchasing an additional 941 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 976 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

EchoStar stock opened at $29.91 on Tuesday. EchoStar Corporation has a 52 week low of $14.79 and a 52 week high of $33.04. The business has a 50-day simple moving average of $23.28 and a 200 day simple moving average of $24.85. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of -39.88 and a beta of 0.90.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19. EchoStar had a negative return on equity of 1.08% and a negative net margin of 1.37%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price target on EchoStar from $27.00 to $28.50 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, EchoStar currently has a consensus rating of “Hold” and an average price target of $24.70.

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.