D. E. Shaw & Co. Inc. Acquires 44,867 Shares of EchoStar Co. (NASDAQ:SATS)

D. E. Shaw & Co. Inc. boosted its holdings in EchoStar Co. (NASDAQ:SATS - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 701,120 shares of the communications equipment provider's stock after buying an additional 44,867 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.26% of EchoStar worth $16,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Diameter Capital Partners LP raised its position in shares of EchoStar by 523.7% during the 4th quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider's stock valued at $115,114,000 after acquiring an additional 4,220,853 shares during the last quarter. Darsana Capital Partners LP increased its holdings in EchoStar by 133.3% in the fourth quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider's stock valued at $160,300,000 after purchasing an additional 4,000,000 shares during the last quarter. Deutsche Bank AG increased its holdings in EchoStar by 325.3% in the fourth quarter. Deutsche Bank AG now owns 940,950 shares of the communications equipment provider's stock valued at $21,548,000 after purchasing an additional 719,685 shares during the last quarter. Invesco Ltd. lifted its stake in EchoStar by 26.0% in the fourth quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock valued at $52,701,000 after buying an additional 474,313 shares during the period. Finally, 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 worth $13,769,000 after buying an additional 350,650 shares during the last quarter. 33.62% of the stock is owned by institutional investors.

EchoStar Stock Performance

Shares of EchoStar stock opened at $20.18 on Tuesday. The stock's fifty day simple moving average is $24.03 and its 200 day simple moving average is $25.07. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $5.78 billion, a PE ratio of -2.20 and a beta of 0.83. EchoStar Co. has a 12 month low of $14.79 and a 12 month high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The communications equipment provider reported ($0.71) earnings per share (EPS) 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 company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the company earned ($0.40) earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that EchoStar Co. will post -1.99 EPS for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group boosted their target price on 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 issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EchoStar Co. (NASDAQ:SATS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.