EchoStar Corporation (NASDAQ:SATS) Stake Lifted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 239.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,185 shares of the communications equipment provider’s stock after purchasing an additional 43,882 shares during the period. Mutual of America Capital Management LLC’s holdings in EchoStar were worth $1,591,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in EchoStar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,737,733 shares of the communications equipment provider’s stock worth $314,594,000 after buying an additional 88,488 shares in the last quarter. Darsana Capital Partners LP raised its position in shares of EchoStar by 133.3% during the fourth quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider’s stock worth $160,300,000 after purchasing an additional 4,000,000 shares during the period. Diameter Capital Partners LP raised its position in shares of EchoStar by 523.7% during the fourth quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider’s stock worth $115,114,000 after purchasing an additional 4,220,853 shares during the period. American Century Companies Inc. lifted its holdings in shares of EchoStar by 1.0% during the fourth quarter. American Century Companies Inc. now owns 2,992,060 shares of the communications equipment provider’s stock valued at $68,518,000 after purchasing an additional 28,779 shares during the last quarter. Finally, Pennant Investors LP boosted its position in shares of EchoStar by 4.2% in the 4th quarter. Pennant Investors LP now owns 2,417,837 shares of the communications equipment provider’s stock valued at $55,368,000 after purchasing an additional 97,000 shares during the period. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Stock Down 1.1%

NASDAQ:SATS opened at $28.61 on Monday. The business’s fifty day moving average price is $23.80 and its 200 day moving average price is $25.07. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of -38.15 and a beta of 0.90. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 1.26. EchoStar Corporation has a 1-year low of $14.79 and a 1-year high of $33.04.

EchoStar (NASDAQ:SATS) last issued its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the company earned ($0.40) EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on EchoStar from $27.00 to $28.50 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.