Sender Co & Partners Inc. Acquires New Shares in EchoStar Corporation $SATS

Key Points

• Sender Co & Partners Inc. has acquired a new stake in EchoStar Corporation, purchasing 27,801 shares valued at approximately $711,000 during the first quarter, as reported in a recent SEC filing.
• Several institutional investors increased their holdings in EchoStar, with notable boosts from Deutsche Bank AG and Brevan Howard Capital Management LP, reflecting growing investor interest.
• EchoStar recently reported quarterly earnings, achieving ($1.06) earnings per share, beating analysts' expectations, despite a 5.8% decline in revenue year-over-year.

Sender Co & Partners Inc. purchased a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,801 shares of the communications equipment provider's stock, valued at approximately $711,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SATS. Farther Finance Advisors LLC boosted 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 period. Fifth Third Bancorp boosted 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 period. State of Wyoming purchased a new stake in EchoStar during the 4th quarter valued at approximately $47,000. GAMMA Investing LLC raised its stake in EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 976 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in EchoStar by 70,980.0% during the 1st quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider's stock valued at $91,000 after acquiring an additional 3,549 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on SATS. Cowen reaffirmed a "buy" rating on shares of EchoStar in a research note on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a research note on Tuesday. Morgan Stanley upped their price target on EchoStar from $59.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Tuesday. TD Cowen upped their price objective on shares of EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Finally, Citigroup restated a "neutral" rating on shares of EchoStar in a research report on Friday, August 29th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, EchoStar currently has a consensus rating of "Hold" and a consensus price target of $63.90.

EchoStar Price Performance

NASDAQ:SATS traded up $2.94 during trading hours on Tuesday, hitting $83.57. The company's stock had a trading volume of 10,160,885 shares, compared to its average volume of 7,626,415. The business's 50-day moving average is $37.10 and its two-hundred day moving average is $28.28. The company has a market capitalization of $24.04 billion, a PE ratio of -79.59 and a beta of 0.99. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $85.37.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.12) by $0.06. The business 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 business's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.76) EPS. As a group, research analysts anticipate that EchoStar Corporation will post -1.99 EPS 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.