EchoStar Corporation (NASDAQ:SATS) Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its position in EchoStar Corporation (NASDAQ:SATS - Free Report) by 50.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,287 shares of the communications equipment provider's stock after buying an additional 17,830 shares during the quarter. Amalgamated Bank's holdings in EchoStar were worth $1,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 975 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after buying an additional 1,151 shares during the period. State of Wyoming purchased a new stake in shares of EchoStar in the 4th quarter valued at $47,000. Fifth Third Bancorp raised its holdings in shares of EchoStar by 44.5% in 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 during the period. Finally, GAMMA Investing LLC raised its holdings in shares of EchoStar by 39.6% in 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 during the period. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $31.36 on Tuesday. The stock's 50-day moving average is $22.57 and its two-hundred day moving average is $24.60. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.26 and a quick ratio of 1.19. EchoStar Corporation has a 1-year low of $14.79 and a 1-year high of $32.48. The company has a market cap of $9.01 billion, a price-to-earnings ratio of -41.81 and a beta of 0.90.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.19. EchoStar had a negative return on equity of 1.08% and a negative net margin of 1.37%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the business earned ($0.40) EPS. EchoStar's revenue was down 3.6% on a year-over-year basis. Analysts forecast that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, EchoStar has a consensus rating of "Hold" and a consensus target price of $24.70.

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.

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