Balyasny Asset Management L.P. Has $11.41 Million Stake in EchoStar Co. (NASDAQ:SATS)

Balyasny Asset Management L.P. lifted its holdings in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 223.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,154 shares of the communications equipment provider's stock after purchasing an additional 343,913 shares during the quarter. Balyasny Asset Management L.P. owned 0.18% of EchoStar worth $11,408,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Darsana Capital Partners LP raised its position in EchoStar by 133.3% in the 4th quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider's stock valued at $160,300,000 after buying an additional 4,000,000 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in EchoStar in the 4th quarter valued at approximately $244,000. Northern Trust Corp raised its position in EchoStar by 6.1% in the 4th quarter. Northern Trust Corp now owns 1,356,396 shares of the communications equipment provider's stock valued at $31,061,000 after buying an additional 78,421 shares during the last quarter. Tudor Investment Corp ET AL raised its position in EchoStar by 219.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 341,995 shares of the communications equipment provider's stock valued at $7,832,000 after buying an additional 234,896 shares during the last quarter. Finally, Quarry LP raised its position in EchoStar by 8,906.7% in the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider's stock valued at $93,000 after buying an additional 4,008 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

Analyst Upgrades and Downgrades

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

EchoStar Stock Down 16.6%

SATS stock traded down $4.01 during mid-day trading on Monday, reaching $20.18. The company had a trading volume of 12,591,785 shares, compared to its average volume of 1,769,910. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The stock has a 50 day simple moving average of $24.25 and a two-hundred day simple moving average of $25.11. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -2.20 and a beta of 0.83. EchoStar Co. has a 52 week low of $14.79 and a 52 week high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its earnings results on Wednesday, May 14th. The communications equipment provider reported ($0.71) 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 previous year, the company posted ($0.40) EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.

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.