Y Intercept Hong Kong Ltd Makes New $989,000 Investment in EchoStar Corporation (NASDAQ:SATS)

Y Intercept Hong Kong Ltd bought a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,660 shares of the communications equipment provider's stock, valued at approximately $989,000.

Several other institutional investors have also recently made changes to their positions in SATS. Farther Finance Advisors LLC grew its position in shares of EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 975 shares in the last quarter. State of Wyoming purchased a new stake in shares of EchoStar during the fourth quarter worth about $47,000. Fifth Third Bancorp grew its holdings in EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after buying an additional 567 shares in the last quarter. GAMMA Investing LLC grew its holdings in EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after buying an additional 976 shares in the last quarter. Finally, Quarry LP grew its holdings in EchoStar by 8,906.7% during 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 in the last quarter. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Stock Down 0.6%

NASDAQ SATS traded down $0.17 on Friday, reaching $29.67. 1,222,762 shares of the stock traded hands, compared to its average volume of 2,766,371. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.19 and a current ratio of 1.26. The company has a fifty day moving average price of $24.41 and a 200-day moving average price of $25.20. The company has a market cap of $8.53 billion, a price-to-earnings ratio of -39.56 and a beta of 0.90. EchoStar Corporation has a 12 month low of $14.79 and a 12 month high of $33.03.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative return on equity of 1.08% and a negative net margin of 1.37%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. As a group, research analysts forecast that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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