Bridgeway Capital Management LLC increased its stake in EchoStar Co. (NASDAQ:SATS - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 673,402 shares of the communications equipment provider's stock after acquiring an additional 16,487 shares during the period. Bridgeway Capital Management LLC owned about 0.25% of EchoStar worth $15,421,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. FIL Ltd raised its holdings in EchoStar by 139.9% during the 4th quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock valued at $13,769,000 after buying an additional 350,650 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in shares of EchoStar by 88.7% during the fourth quarter. Nebula Research & Development LLC now owns 41,673 shares of the communications equipment provider's stock worth $954,000 after purchasing an additional 19,590 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of EchoStar by 30.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider's stock worth $1,582,000 after purchasing an additional 16,253 shares during the last quarter. Pennant Investors LP increased its holdings in EchoStar by 4.2% during 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. Finally, Raymond James Financial Inc. bought a new position in EchoStar during the 4th quarter valued at approximately $3,033,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.
EchoStar Stock Up 1.7 %
Shares of SATS stock traded up $0.40 during midday trading on Friday, reaching $24.25. 2,363,302 shares of the stock were exchanged, compared to its average volume of 1,725,730. EchoStar Co. has a 1 year low of $14.79 and a 1 year high of $32.48. The firm has a market cap of $6.95 billion, a PE ratio of -2.65 and a beta of 0.83. The company's 50 day moving average is $24.25 and its two-hundred day moving average is $25.11. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.18. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) EPS. On average, equities research analysts predict that EchoStar Co. will post -1.99 EPS for the current year.
Analysts Set New Price Targets
Separately, UBS Group lifted their price objective on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, EchoStar currently has a consensus rating of "Hold" and an average target price of $23.75.
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About EchoStar
(
Free Report)
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.
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