30,397 Shares in EchoStar Corporation (NASDAQ:SATS) Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP has made a new investment in EchoStar Corporation, acquiring 30,397 shares valued at approximately $778,000 during the 1st quarter.
• EchoStar's recent quarterly earnings report showed a net loss of ($1.06) per share, slightly better than the consensus estimate of ($1.07), but revenue decreased by 5.8% compared to the previous year.
• Analysts have mixed sentiments on EchoStar, with Citigroup raising its target price from $27.00 to $28.50, resulting in a current average rating of "Hold" for the stock.

GSA Capital Partners LLP acquired a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 30,397 shares of the communications equipment provider's stock, valued at approximately $778,000.

Several other institutional investors also recently bought and sold shares of the company. Diameter Capital Partners LP grew its stake in shares of EchoStar by 523.7% during the 4th quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider's stock worth $115,114,000 after purchasing an additional 4,220,853 shares during the period. Darsana Capital Partners LP grew its stake in shares of EchoStar by 133.3% during the 4th 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 during the period. Deutsche Bank AG grew its stake in shares of EchoStar by 325.3% during the 4th 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 during the period. Invesco Ltd. boosted its position in shares of EchoStar by 26.0% in the 4th quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock worth $52,701,000 after buying an additional 474,313 shares in the last quarter. Finally, FIL Ltd boosted its position in shares of EchoStar by 139.9% in the 4th quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock worth $13,769,000 after buying an additional 350,650 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Trading Down 2.2%

NASDAQ:SATS traded down $0.60 on Monday, reaching $26.33. The stock had a trading volume of 4,666,826 shares, compared to its average volume of 2,888,559. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -25.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.26 and a quick ratio of 1.19. The firm's fifty day moving average is $25.58 and its two-hundred day moving average is $25.50. EchoStar Corporation has a 12-month low of $14.79 and a 12-month high of $34.20.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating analysts' consensus estimates 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 company 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 company posted ($0.76) EPS. The company's quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts expect that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price objective 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, EchoStar currently has a consensus rating of "Hold" and a consensus price target of $24.70.

About EchoStar

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.