Cetera Investment Advisers Invests $236,000 in EchoStar Corporation $SATS

Cetera Investment Advisers acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,226 shares of the communications equipment provider’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SATS. Farther Finance Advisors LLC increased its position in EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 975 shares in the last quarter. State of Wyoming acquired a new stake in EchoStar in the 4th quarter worth about $47,000. Fifth Third Bancorp boosted its stake in EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 567 shares during the last quarter. GAMMA Investing LLC boosted its stake in EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after buying an additional 976 shares during the last quarter. Finally, Quarry LP boosted its stake in EchoStar by 8,906.7% in the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider’s stock worth $93,000 after buying an additional 4,008 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup raised their price target on EchoStar from $27.00 to $28.50 and gave the stock a “neutral” rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, EchoStar presently has an average rating of “Hold” and a consensus price target of $27.88.

EchoStar Stock Performance

EchoStar stock opened at $27.50 on Friday. The stock’s 50-day moving average is $28.08 and its 200-day moving average is $25.54. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -26.19 and a beta of 0.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $34.20.

EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.06. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. Equities analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current year.

EchoStar Company 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.