13,058 Shares in EchoStar Corporation (NASDAQ:SATS) Bought by Blair William & Co. IL

Key Points

• Blair William & Co. IL has acquired a new stake in EchoStar Corporation by purchasing 13,058 shares valued at approximately $334,000 in the first quarter.
• Several other institutional investors have also expanded their holdings in EchoStar, with XTX Topco Ltd's stake growing by 121.2% to 40,443 shares, valued at $1,035,000.
• Analysts have raised EchoStar's target price from $27.00 to $28.50 while rating the stock as "neutral," with an average price target of $24.70 amidst mixed ratings from analysts.

Blair William & Co. IL acquired a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,058 shares of the communications equipment provider's stock, valued at approximately $334,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Diameter Capital Partners LP increased its stake in EchoStar by 523.7% in the fourth 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 period. Darsana Capital Partners LP lifted its position in shares of EchoStar by 133.3% during the fourth quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider's stock worth $160,300,000 after purchasing an additional 4,000,000 shares in the last quarter. Deutsche Bank AG lifted its position in shares of EchoStar by 325.3% during the fourth quarter. Deutsche Bank AG now owns 940,950 shares of the communications equipment provider's stock worth $21,548,000 after purchasing an additional 719,685 shares in the last quarter. Invesco Ltd. lifted its position in shares of EchoStar by 26.0% during the fourth quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock worth $52,701,000 after purchasing an additional 474,313 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of EchoStar by 223.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 498,154 shares of the communications equipment provider's stock worth $11,408,000 after purchasing an additional 343,913 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Trading Down 1.8%

NASDAQ SATS traded down $0.51 during trading hours on Friday, hitting $27.86. The company's stock had a trading volume of 2,674,990 shares, compared to its average volume of 2,582,052. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $34.20. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $8.02 billion, a P/E ratio of -26.53 and a beta of 0.94. The stock has a fifty day moving average of $27.23 and a 200 day moving average of $25.53.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. The business's quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts forecast that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price objective on shares of EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.88.

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.