Rhumbline Advisers Increases Holdings in EchoStar Co. (NASDAQ:SATS)

Rhumbline Advisers lifted its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 391,985 shares of the communications equipment provider's stock after buying an additional 17,448 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of EchoStar worth $10,027,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in EchoStar by 6.1% during the fourth quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider's stock worth $7,882,000 after purchasing an additional 19,772 shares during the period. Van ECK Associates Corp grew its holdings in shares of EchoStar by 309.6% in the fourth quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider's stock valued at $3,048,000 after purchasing an additional 100,608 shares in the last quarter. Principal Financial Group Inc. increased its stake in EchoStar by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 585,990 shares of the communications equipment provider's stock worth $13,419,000 after buying an additional 16,999 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in EchoStar during the 4th quarter worth approximately $2,404,000. Finally, Bank of New York Mellon Corp boosted its position in EchoStar by 15.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock valued at $23,354,000 after buying an additional 133,819 shares during the period. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Stock Down 6.9%

SATS stock traded down $1.24 during mid-day trading on Friday, reaching $16.84. The company had a trading volume of 5,730,708 shares, compared to its average volume of 2,083,883. The firm has a fifty day simple moving average of $21.06 and a 200 day simple moving average of $24.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -1.84 and a beta of 0.75. EchoStar Co. has a fifty-two week low of $14.79 and a fifty-two week high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last released its earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.19. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm earned ($0.40) earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.

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.