GSA Capital Partners LLP Acquires Shares of 30,397 EchoStar Corporation (NASDAQ:SATS)

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 bought a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 30,397 shares of the communications equipment provider's stock, valued at approximately $778,000.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of EchoStar by 44.5% during the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after acquiring an additional 567 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings in EchoStar by 2.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider's stock valued at $1,090,000 after purchasing an additional 941 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 975 shares during the period. GAMMA Investing LLC boosted its stake in EchoStar by 39.6% during the first 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. Finally, State of Wyoming purchased a new position in EchoStar during the fourth quarter worth about $47,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

EchoStar Trading Up 1.0%

Shares of NASDAQ:SATS traded up $0.26 on Wednesday, reaching $26.99. 2,669,570 shares of the company traded hands, compared to its average volume of 2,981,529. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.28. EchoStar Corporation has a 52 week low of $14.79 and a 52 week high of $34.20. The business's 50-day simple moving average is $25.71 and its 200 day simple moving average is $25.51. The stock has a market capitalization of $7.76 billion, a P/E ratio of -25.70 and a beta of 0.94.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.76) earnings per share. As a group, equities analysts anticipate 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 EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of "Hold" and a consensus target price of $24.70.

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.