Rhumbline Advisers Grows Position in EchoStar Co. (NASDAQ:SATS)

Rhumbline Advisers increased its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,985 shares of the communications equipment provider's stock after purchasing an additional 17,448 shares during the period. Rhumbline Advisers owned approximately 0.14% of EchoStar worth $10,027,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SATS. Diameter Capital Partners LP grew its holdings in EchoStar by 523.7% during the fourth quarter. Diameter Capital Partners LP now owns 5,026,823 shares of the communications equipment provider's stock worth $115,114,000 after buying an additional 4,220,853 shares in the last quarter. Darsana Capital Partners LP lifted its position in shares of EchoStar by 133.3% during the fourth quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the communications equipment provider's stock valued at $160,300,000 after purchasing an additional 4,000,000 shares in the last quarter. Deutsche Bank AG lifted its position in shares of EchoStar by 325.3% during the fourth quarter. Deutsche Bank AG now owns 940,950 shares of the communications equipment provider's stock valued at $21,548,000 after purchasing an additional 719,685 shares in the last quarter. Invesco Ltd. boosted its holdings in EchoStar by 26.0% during the fourth quarter. Invesco Ltd. now owns 2,301,367 shares of the communications equipment provider's stock worth $52,701,000 after purchasing an additional 474,313 shares during the last quarter. Finally, FIL Ltd increased its stake in EchoStar by 139.9% in the 4th quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock valued at $13,769,000 after buying an additional 350,650 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

EchoStar Stock Performance

Shares of EchoStar stock traded up $0.53 during mid-day trading on Wednesday, hitting $17.27. 3,287,265 shares of the stock were exchanged, compared to its average volume of 2,052,850. EchoStar Co. has a 12 month low of $14.79 and a 12 month high of $32.48. The company has a 50-day simple moving average of $21.29 and a 200 day simple moving average of $24.39. The company has a market capitalization of $4.96 billion, a P/E ratio of -1.89 and a beta of 0.75. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67.

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

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.