Mutual of America Capital Management LLC raised its stake in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) by 239.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,185 shares of the communications equipment provider's stock after purchasing an additional 43,882 shares during the period. Mutual of America Capital Management LLC's holdings in EchoStar were worth $1,591,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SATS. Fifth Third Bancorp grew its holdings in 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 last quarter. Xponance Inc. boosted its position in shares of EchoStar by 8.7% in the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock valued at $201,000 after acquiring an additional 701 shares during the period. Gilder Gagnon Howe & Co. LLC grew its stake in shares of EchoStar by 2.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider's stock worth $1,090,000 after acquiring an additional 941 shares during the last quarter. Farther Finance Advisors LLC increased its position in 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 acquiring an additional 975 shares during the period. Finally, GAMMA Investing LLC raised its stake 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 purchasing an additional 976 shares during the last quarter. Institutional investors own 33.62% of the company's stock.
EchoStar Stock Performance
SATS stock traded up $0.23 during midday trading on Thursday, hitting $29.84. The stock had a trading volume of 2,101,441 shares, compared to its average volume of 2,801,143. EchoStar Corporation has a 52 week low of $14.79 and a 52 week high of $33.03. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 1.26. The stock has a 50-day simple moving average of $24.41 and a 200 day simple moving average of $25.20. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of -39.79 and a beta of 0.90.
EchoStar (NASDAQ:SATS - Get Free Report) last issued its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.19. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. The firm's revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) EPS. As a group, equities research analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, Citigroup raised their price target on shares of EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $24.70.
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EchoStar Profile
(
Free Report)
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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