Sterling Capital Management LLC lessened its stake in EchoStar Co. (NASDAQ:SATS - Free Report) by 83.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,836 shares of the communications equipment provider's stock after selling 19,355 shares during the quarter. Sterling Capital Management LLC's holdings in EchoStar were worth $88,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after acquiring an additional 1,151 shares during the last quarter. Covestor Ltd increased its stake in EchoStar by 189.1% during the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock worth $110,000 after acquiring an additional 3,137 shares during the last quarter. KBC Group NV increased its stake in EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after acquiring an additional 2,635 shares during the last quarter. Xponance Inc. increased its stake in EchoStar by 8.7% during the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock worth $201,000 after acquiring an additional 701 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in EchoStar during the fourth quarter worth $204,000. Institutional investors and hedge funds own 33.62% of the company's stock.
Analysts Set New Price Targets
Separately, UBS Group raised their price target on EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $23.75.
Get Our Latest Research Report on EchoStar
EchoStar Stock Up 0.5 %
NASDAQ:SATS traded up $0.12 during midday trading on Monday, reaching $22.68. The company had a trading volume of 1,095,301 shares, compared to its average volume of 1,737,511. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of -2.48 and a beta of 0.72. The stock's fifty day simple moving average is $25.40 and its 200-day simple moving average is $25.21. EchoStar Co. has a 12-month low of $14.40 and a 12-month high of $32.48. 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 released its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $1.87. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. On average, sell-side analysts anticipate that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.
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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