Mutual of America Capital Management LLC Buys 43,882 Shares of EchoStar Corporation (NASDAQ:SATS)

Key Points

• Mutual of America Capital Management LLC increased its stake in EchoStar Corporation by 239.8%, acquiring an additional 43,882 shares, bringing its total holdings to 62,185 shares valued at approximately $1.59 million.
• EchoStar reported a quarterly earnings per share of ($1.06), beating consensus estimates but facing a revenue decline of 5.8% year-over-year.
• Citigroup lifted its price target on EchoStar shares from $27.00 to $28.50, assigning a "neutral" rating, amid mixed analyst perspectives with an average rating of "Hold".

Mutual of America Capital Management LLC grew its stake in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) by 239.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,185 shares of the communications equipment provider's stock after buying an additional 43,882 shares during the quarter. Mutual of America Capital Management LLC's holdings in EchoStar were worth $1,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of 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 buying an additional 975 shares during the last quarter. Fifth Third Bancorp grew its stake 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 buying an additional 567 shares during the last quarter. State of Wyoming acquired a new position in shares of EchoStar during the fourth quarter worth $47,000. GAMMA Investing LLC lifted its holdings in shares of EchoStar by 39.6% during the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock worth $88,000 after purchasing an additional 976 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of EchoStar during the first quarter worth $102,000. Institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

SATS stock opened at $27.08 on Friday. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of -25.79 and a beta of 0.94. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. EchoStar Corporation has a 12-month low of $14.79 and a 12-month high of $34.20. The company's fifty day simple moving average is $26.17 and its 200 day simple moving average is $25.50.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the previous year, the firm posted ($0.76) earnings per share. The business's revenue was down 5.8% compared to the same quarter last year. On average, analysts expect that EchoStar Corporation will post -1.99 earnings per share for the current year.

Analyst Ratings Changes

Separately, Citigroup lifted their price target on shares of EchoStar from $27.00 to $28.50 and gave the stock 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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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