BI Asset Management Fondsmaeglerselskab A S Purchases New Holdings in EchoStar Co. (NASDAQ:SATS)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,507 shares of the communications equipment provider's stock, valued at approximately $2,073,000.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of EchoStar by 26.0% during the 4th quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock worth $52,701,000 after purchasing an additional 474,313 shares during the last quarter. FIL Ltd boosted its holdings in EchoStar by 139.9% during the fourth quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock valued at $13,769,000 after acquiring an additional 350,650 shares during the period. Renaissance Technologies LLC acquired a new position in shares of EchoStar during the fourth quarter valued at about $5,351,000. Atika Capital Management LLC acquired a new position in shares of EchoStar during the fourth quarter valued at about $4,336,000. Finally, Bank of New York Mellon Corp raised its position in shares of EchoStar by 15.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock valued at $23,354,000 after buying an additional 133,819 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Trading Up 0.2 %

Shares of EchoStar stock traded up $0.05 during trading hours on Friday, hitting $22.56. The company's stock had a trading volume of 984,349 shares, compared to its average volume of 1,740,091. EchoStar Co. has a 12 month low of $14.40 and a 12 month high of $32.48. The stock has a 50 day moving average of $25.54 and a 200 day moving average of $25.23. The company has a market capitalization of $6.46 billion, a PE ratio of -2.46 and a beta of 0.72. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $1.87. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. Analysts predict that EchoStar Co. will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, UBS Group increased their price target on shares of EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, EchoStar currently has an average rating of "Hold" and a consensus price target of $23.75.

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.