EchoStar Corporation (NASDAQ:SATS) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its holdings in EchoStar Corporation by 121.2% in Q1, acquiring an additional 22,163 shares to reach a total of 40,443 shares valued at approximately $1,035,000.
• Wall Street analysts have a consensus rating of "Hold" for EchoStar, with Citigroup raising their price target from $27.00 to $28.50.
• EchoStar reported a negative EPS of ($1.06) for the last quarter, which was slightly better than analysts' expectations, but its revenue of $3.72 billion fell short of the anticipated $3.80 billion.

XTX Topco Ltd grew its holdings in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) by 121.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,443 shares of the communications equipment provider's stock after buying an additional 22,163 shares during the quarter. XTX Topco Ltd's holdings in EchoStar were worth $1,035,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SATS. Farther Finance Advisors LLC boosted its holdings in EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 975 shares during the period. State of Wyoming acquired a new position in shares of EchoStar during the fourth quarter worth $47,000. Fifth Third Bancorp boosted its stake in shares of EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after purchasing an additional 567 shares during the period. GAMMA Investing LLC grew its holdings 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 purchasing an additional 976 shares in the last quarter. Finally, Quarry LP lifted its holdings in EchoStar by 8,906.7% in the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider's stock worth $93,000 after buying an additional 4,008 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

Wall Street Analysts Forecast Growth

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

EchoStar Stock Up 1.0%

SATS stock traded up $0.26 during mid-day trading on Wednesday, hitting $26.99. 2,669,572 shares of the company were exchanged, compared to its average volume of 2,981,569. The firm has a fifty day simple moving average of $25.71 and a 200 day simple moving average of $25.51. The company has a market capitalization of $7.76 billion, a PE ratio of -25.70 and a beta of 0.94. EchoStar Corporation has a twelve month low of $14.79 and a twelve month high of $34.20. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.28.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping 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 return on equity of 1.58% and a negative net margin of 2.04%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) earnings per share. On average, research analysts forecast that EchoStar Corporation 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.