10,793 Shares in EchoStar Corporation (NASDAQ:SATS) Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC has acquired 10,793 shares of EchoStar Corporation for approximately $276,000, indicating growing institutional interest in the company.
• EchoStar reported a $1.06 loss per share for its latest quarter, surpassing analysts' expectations, but its revenue declined by 5.8% compared to the prior year.
• Citigroup raised its target price for EchoStar shares from $27.00 to $28.50, with an overall average rating of "Hold" among analysts.

Headlands Technologies LLC acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,793 shares of the communications equipment provider's stock, valued at approximately $276,000.

A number of other large investors have also added to or reduced their stakes in the stock. Blair William & Co. IL purchased a new stake in EchoStar during the first quarter worth about $334,000. XTX Topco Ltd increased its holdings in EchoStar by 121.2% during the first quarter. XTX Topco Ltd now owns 40,443 shares of the communications equipment provider's stock worth $1,035,000 after buying an additional 22,163 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in EchoStar during the first quarter worth about $778,000. Federated Hermes Inc. purchased a new position in shares of EchoStar in the first quarter worth about $166,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of EchoStar in the first quarter worth about $102,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

SATS opened at $27.08 on Friday. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -25.79 and a beta of 0.94. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $26.17 and a 200-day moving average price of $25.50. EchoStar Corporation has a twelve month low of $14.79 and a twelve month high of $34.20.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating analysts' consensus estimates of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period last year, the business earned ($0.76) earnings per share. EchoStar's revenue was down 5.8% compared to the same quarter last year. Equities analysts expect that EchoStar Corporation will post -1.99 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Citigroup lifted their target price on shares of EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, EchoStar has an average rating of "Hold" and a consensus price target of $24.70.

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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