Caxton Associates LP Acquires New Shares in EchoStar Co. (NASDAQ:SATS)

Caxton Associates LP bought a new position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 88,472 shares of the communications equipment provider's stock, valued at approximately $2,026,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FIL Ltd grew its holdings in shares of 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 purchasing an additional 350,650 shares during the last quarter. Nebula Research & Development LLC grew its stake 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 buying an additional 19,590 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of EchoStar by 30.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider's stock worth $1,582,000 after buying an additional 16,253 shares in the last quarter. Pennant Investors LP lifted its stake 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 acquiring an additional 97,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of EchoStar during the 4th quarter valued at $3,033,000. Institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $24.03 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar Co. has a 52 week low of $14.40 and a 52 week high of $32.48. The firm has a market cap of $6.88 billion, a PE ratio of -2.62 and a beta of 0.72. The firm's fifty day moving average is $24.90 and its 200-day moving average is $25.14.

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

Wall Street Analysts Forecast Growth

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

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