Voloridge Investment Management LLC Purchases Shares of 238,277 EchoStar Co. (NASDAQ:SATS)

Voloridge Investment Management LLC purchased a new position in EchoStar Co. (NASDAQ:SATS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 238,277 shares of the communications equipment provider's stock, valued at approximately $5,457,000. Voloridge Investment Management LLC owned 0.09% of EchoStar as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of SATS. Woodline Partners LP purchased a new stake in shares of EchoStar during the fourth quarter worth about $524,000. Zimmer Partners LP purchased a new stake in EchoStar in the fourth quarter valued at approximately $6,526,000. Two Sigma Advisers LP purchased a new stake in EchoStar in the fourth quarter valued at approximately $414,000. Taconic Capital Advisors LP purchased a new stake in EchoStar in the fourth quarter valued at approximately $572,000. Finally, State of Wyoming purchased a new stake in EchoStar in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Stock Performance

NASDAQ SATS traded up $0.22 during trading hours on Thursday, reaching $20.17. The stock had a trading volume of 1,433,514 shares, compared to its average volume of 1,863,650. The stock has a fifty day moving average of $22.76 and a 200 day moving average of $24.74. The stock has a market cap of $5.80 billion, a P/E ratio of -2.20 and a beta of 0.83. EchoStar Co. has a 52-week low of $14.79 and a 52-week high of $32.48. 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 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 firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.87 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. EchoStar's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Sell-side analysts predict that EchoStar Co. will post -1.99 earnings per share for the current 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.