Securian Asset Management Inc. Acquires New Position in EchoStar Corporation (NASDAQ:SATS)

Securian Asset Management Inc. acquired a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,176 shares of the communications equipment provider's stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake 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 valued at $25,000 after purchasing an additional 975 shares during the period. State of Wyoming bought a new position in EchoStar during the fourth quarter valued at approximately $47,000. Fifth Third Bancorp increased its position in 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 during the period. GAMMA Investing LLC grew its holdings in shares of EchoStar by 39.6% in the 1st 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 last quarter. Finally, Quarry LP lifted its position in EchoStar by 8,906.7% during the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider's stock valued at $93,000 after purchasing an additional 4,008 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised their price target on shares of EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.70.

EchoStar Price Performance

SATS traded down $0.28 during trading on Monday, reaching $28.33. The stock had a trading volume of 2,349,940 shares, compared to its average volume of 2,352,734. EchoStar Corporation has a 1-year low of $14.79 and a 1-year high of $33.04. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of -37.77 and a beta of 0.90. The stock has a 50 day moving average of $23.80 and a two-hundred day moving average of $25.07.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly 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 1.37% and a negative return on equity of 1.08%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm posted ($0.40) earnings per share. EchoStar's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

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.