Cetera Investment Advisers Invests $236,000 in EchoStar Corporation $SATS

Key Points

• Cetera Investment Advisers invested approximately $236,000 in EchoStar Corporation, acquiring a total of 9,226 shares during the first quarter.
• Citigroup raised their price target for EchoStar from $27.00 to $28.50, maintaining a "neutral" rating on the stock, which has an average rating of "Hold" among analysts.
• EchoStar reported quarterly earnings of ($1.06) EPS, surpassing estimates but experiencing a 5.8% decline in revenue compared to the previous year.

Cetera Investment Advisers acquired a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,226 shares of the communications equipment provider's stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. State of Wyoming purchased a new stake in shares of EchoStar in the fourth quarter worth about $47,000. Fifth Third Bancorp grew its holdings in shares of EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after purchasing an additional 567 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 increased its holdings in EchoStar by 8,906.7% in the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider's stock worth $93,000 after acquiring an additional 4,008 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Trading Up 74.0%

EchoStar stock traded up $22.12 during midday trading on Tuesday, reaching $52.00. The stock had a trading volume of 38,890,051 shares, compared to its average volume of 3,101,927. The stock's 50-day simple moving average is $28.43 and its 200 day simple moving average is $25.51. The stock has a market capitalization of $14.96 billion, a PE ratio of -49.65 and a beta of 0.94. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $55.19. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22.

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

Wall Street Analysts Forecast Growth

Separately, Citigroup raised their price target on EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, EchoStar presently has an average rating of "Hold" and a consensus price target of $27.88.

EchoStar Company 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.