Taconic Capital Advisors LP Makes New Investment in EchoStar Co. (NASDAQ:SATS)

Taconic Capital Advisors LP bought a new stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the communications equipment provider's stock, valued at approximately $572,000. EchoStar accounts for about 0.2% of Taconic Capital Advisors LP's holdings, making the stock its 17th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after acquiring an additional 1,151 shares in the last quarter. State of Wyoming bought a new stake in shares of EchoStar during the 4th quarter valued at about $47,000. Quarry LP boosted its stake in shares of 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 in the last quarter. Covestor Ltd increased its position in shares of EchoStar by 189.1% during the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock valued at $110,000 after buying an additional 3,137 shares during the period. Finally, KBC Group NV raised its stake in EchoStar by 65.1% in the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after buying an additional 2,635 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Performance

Shares of SATS opened at $23.39 on Monday. The company has a 50-day simple moving average of $23.65 and a two-hundred day simple moving average of $24.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The firm has a market capitalization of $6.70 billion, a PE ratio of -2.55 and a beta of 0.83. EchoStar Co. has a one year low of $14.79 and a one year 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) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.19. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.87 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) EPS. On average, analysts anticipate that EchoStar Co. 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.

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